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Yesterday, Hewlett-Packard announced its financial results for the first quarter of 2014, reporting first quarter n...
Yesterday, Hewlett-Packard announced its financial results for the first quarter of 2014, reporting first quarter net revenue of $28.2 billion, a 1% decline from 2013 first quarter net revenue of $28.4 billion.
Concluding with January 31, HP's first quarter profits were reported at $1.4 billion, up from $1.2 billion last year, or a 16% increase. During the first quarter of 2014, earnings per shares went up to 74 from 63 cents, compared to the same quarter from last year.
Revenue was up in the personal systems segment, with a 3.3% operating margin, as well as in the corporate investments segment.
Hewlett-Packard, a company known for innovation and change, is in year two of the five year recovery plan, as proposed by its CEO, Meg Whitman. This ambitious plan aims to fix this tech giant with new products, growth and stability.
Whitman says, “HP is in a stronger position today than we've been in quite some time. The progress we're making is reflected in growth across several parts of our portfolio, the growing strength of our balance sheet, and the strong support we're receiving from customers and channel partners. Innovation is igniting our comeback, and at a time when many of our competitors are confronting new challenges, two years of turnaround work is setting us up for an exciting future."
You can view details on Hewlett-Packard's earnings, financial analysis, and earnings overview presentation, as well as Q1 2014 Hewlett-Packard Earnings Conference Call on Hewlett-Packard's official site.