HP has reported fourth-quarter earnings that, thanks to all its business units performing well, exceed the annual sales. However, this wasn't good enough for the share market and its shares have slipped by almost 36% in market value.
Sales for the fiscal fourth quarter increased 7 percent to $24.6 billion, compared with $22.9 billion last year.
HP also cracked $90 billion in annual revenue for the first time, accelerating the competition with IBM Corp. for the distinction of being the world's largest technology vendor in terms of sales.
For the year, the company earned $6.2 billion, or $2.18 per share, compared with $2.4 billion, or 82 cents per share. Sales for the year were $91.7 billion, compared with last year's total of $86.7 billion.
Tags: HP, Hewlett Packard, IBM
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