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HPQ:HP Reports First Quarter 2010 Results

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HPQ:HP Reports First Quarter 2010 Results – HP has unveiled it first quarter 2010 results and the numbers are pretty impressive.The company reported a first quarter net revenue of $31.2 billion, up 8%, or $2.4 billion, from a year earlier. Mark Hurd, HP chairman and chief executive officer said:

“HP is well-positioned to outperform the market.The strength of our portfolio, leaner cost structure and accelerating market momentum give us the confidence to raise our full-year outlook.”


Here are the full numbers:
Q1 FY10 Q1 FY09 Y/Y
Net revenue ($B) $31.2 $28.8 8%
GAAP operating margin 9.6% 8.7% 0.9 pts
GAAP net earnings ($B) $2.3 $1.9 25%
GAAP diluted EPS $0.96 $0.75 28%
Non-GAAP operating margin 11.2% 10.8% 0.4 pts
Non-GAAP net earnings ($B) $2.7 $2.3 17%
Non-GAAP diluted EPS $1.10 $0.93 18%
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Despite the solid numbers the company intends to beef up its sales force.
That’s all we have for now on HPQ.

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