Hurd hasn't hurt HP's bottom line

The departure of CEO Mark Hurd for pastures new hasn’t dented HP’s ability to turn in increased revenues and profits.

Its revenue for its third financial quarter amounted to $30.7 billion, up 11 percent from the same quarter last year. It turned in a net profit of $1.8 billion, a six percent rise from its Q3 last year.

Every region it operated in showed an increase, but its service revenues only rose one percent to $8.6 billion, while its revenues in technology services fell by one percent, year on year.

Its server business for the enterprise performed strongly accounting for $4.4 billion of revenues, a rise of 19 percent quarter on quarter, year on year. X86 revenues soared by 31 percent, storage revenues rose 10 percent but business critical systems revenue fell by 15 percent. HP made an operating profit of $549 million from this line.

Software was only up by two percent.

Its PC business showed a rise of 12 percent in unit shipments – breaking that out notebook revs rose 10 percent, and desktop revenues by 27 percent.  It made an operating profit of $469 million for the period.

As to printers – that too rose by nine percent to $6.2 billion. Printer shipments rose by 16 percent but commercial printer hardware units rose by 44 percent in the period. That division made an operating profit of $1 billion.

HP is looking for a new CEO.