HP Wednesday reported a profit of 25 percent, a number attributed by the company to strong PC division performance, as well as cost-cutting.
The company posted a net income of $2.3 billion in the quarter ended Jan. 31, up from $1.9 billion the same time last year. The jump came on an 8 percent increase in revenue.
“Solid performance across the business and disciplined execution on our cost initiatives contributed to strong growth in cash flow and EPS,” Cathie Lesjak, HP's executive vice president and chief financial officer, said as part of the announcement. “We will continue to invest for growth and leverage our scale and global position to take advantage of an improving demand environment.”
Analysts quoted by the AP described the performance as “better than expected.”
