Solid sales boost HP's profit by 25 per cent

HP posted first quarter profit of $2.3 billion, up from $1.9 billion the year before.

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Strong Christmas sales has helped HP post a 25 per cent increase in profits.

Profits hit $2.3 billion during HP's first quarter ending 31 January, representing a significant jump on the $1.9 billion during the same period last year.

The climb was driven by increased demand for PCs and servers, and a surprising resurgence of its printer business, which drummed up revenues of $4.4 billion during the quarter, 11 per cent better than last year.

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Equally cheery were PC sales, which rose 20 per cent to $10.6 billion. Overall shipments rose 26 per cent, which should see HP keep its market crown out of the grabbing hands of Acer and Dell this year.

The results put HP in an optimistic mood, with the PC maker predicting sales of between $29.4 billion to $29.7 billion in its second quarter.

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