| By Yeshim Deniz |
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| February 17, 2010 05:00 PM EST |
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4,671 |
HP on Wednesday announced financial results for its first fiscal quarter ended Jan. 31, 2010, with net revenue of $31.2 billion, up 8% from a year earlier and up 5% when adjusted for the effects of currency.
In the first quarter, GAAP diluted earnings per share (EPS) was $0.96, up from $0.75 in the prior-year period. Non-GAAP EPS was $1.10, up from $0.93 in the prior-year period. Non-GAAP financial information excludes after-tax costs of approximately $0.14 per share and $0.18 per share in the first quarter of fiscal 2010 and 2009, respectively, related primarily to the amortization of purchased intangibles, restructuring charges and acquisition-related charges.
“HP is well-positioned to outperform the market,” said Mark Hurd, HP chairman and chief executive officer. “The strength of our portfolio, leaner cost structure and accelerating market momentum give us the confidence to raise our full-year outlook.”
Yeshim Deniz is a Ulitzer blogger who writes about cloud computing, breaking news from Cloud Expo, and emerging technologies. She first started blogging in the aftermath of Hurricane Katrina. She broke the news on her blog about Condoleeza Rice's visit to Spamalot on Broadway as Katrina hit New Orleans. Yeshim was the first journalist to call for the resignation of the FEMA director, the day before Katrina hit New Orleans. She later helped to organize a "Change the Administration" march in Washington DC. Email Yeshim at editorial (at) sys-con.com.
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