From InfoWorld: Hewlett-Packard reported results for the last quarter of its fiscal year on Tuesday, and although sales were down from a year earlier there were some much-needed signs of improvement.
HP's enterprise division, which sells servers, storage and network gear, reported its first sales growth in two years, and its PC division, which has been hammered by the popularity of tablets, shrank less than it did in prior quarters.
"Through improved execution, strong cost management, and with the support of our customers and partners, HP ended fiscal 2013 on a high note," CEO Meg Whitman said in a statement.
Overall, HP's revenue for the quarter ended Oct. 31 was $29.1 billion, the company said, down 3 percent from a year earlier but better than the $27.9 billion expected by financial analysts polled by Thomson Reuters.
Net income was $1.4 billion, compared to a loss of $8.9 billion in the same quarter last year, when HP recorded a huge impairment charge for its acquisition of UK software firm Autonomy.
Excluding one-time items, HP reported earnings per share for the quarter of $1.01, down 13 percent from last year but again better than analysts had forecast.
HP's enterprise group reported a 2 percent increase in revenue, helped by increased sales of x86 servers and network gear, HP said.
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