Hewlett-Packard earnings increase

PALO ALTO, Calif. – Hewlett-Packard Co. (NYSE: HPQ) reported revenue of $20.1 billion for its fiscal second quarter that ended April 30, an increase of 12 percent from last year.
HP operates facilities in Fort Collins and Loveland and employs approximately 6,000 in the state.
For the second quarter HP reported a profit of $884 million, or 29 cents per share, compared with $659 million, or 22 cents per share, in the same period last year. However, there was a decrease in net earnings from the previous quarter. The first fiscal quarter earnings for this year were $936 million, $52 million more than the second quarter.
According to company officials, estimates for the remainder of the year are optimistic. Initially the company told analysts to expect sales of $39.7 billion. However, a statement on Tuesday indicated that revenue could hit $40.7 billion.
The increase can be partially attributed to the declining value of the U.S. dollar, allowing European consumers were able to purchase goods at lower costs. HP’s Europe sales were $8.3 billion, a 17 percent increase over last year.