Profits perk up at HP
HP’s net profit for its fourth fiscal quarter, which included $136m in after-tax adjustments, were $1.2bn, exceeding analyst expectations. HP’s total turnover was also slightly ahead of analysts’ estimates.
The enterprise storage and servers group reported an operating profit of $107m and a 7% increase in turnover. Several key executives in the group were fired following a botched order processing system migration. The group recorded $4.1bn in turnover for the quarter.
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