Server and PC sales prop up HP

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HP posted small losses this week, but the results were better than expected for the quarter.

The company made net revenue of $27.5 billion (£16.8 billion), which was down two per cent from the last quarter. However, HP gained market share in key areas such as servers and PCs.

Mark Hurd, chairman and chief executive of HP, said in a statement: “We made positive gains in extending our market leadership in key segments and strengthening our competitive position. Business is stabilising, and we are confident that HP will be an early beneficiary of an economic turnaround and will continue to outperform when conditions improve.”

Looking at sales by location showed Europe as HP’s biggest problem. While revenue grew by eight per cent in the Americas, they declined by 12 per cent in Europe.

Still, the company predicted an eight per cent rise in sequential revenue for the next quarter.

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