Hewlett-Packard (HP) today issued a better-than-expected quarterly profit and outlook on the back of strong sales of notebook computers.
Revenue grew 15 per cent to $28.3 billion, compared with the average analyst forecast of $27.4 billion. Sales were helped by a 49 per cent jump in notebook computer revenue.
HP also announced an $8 billion share buyback programme, though market reaction was muted by uncertainty over how much the US credit crisis will hurt technology demand in coming months.
HP shares rose 1.7 per cent in extended trading to $50.28.
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The results came after IBM and Cisco Systems warned of weakness in orders from US financial institutions, which are mired in mortgage-related losses.