A Year Ago: HP reports 'mixed' numbers

Tue, 19 Aug 1997 13:14:54 GMT

Hewlett-Packard (HP) admitted to "mixed" results yesterday, for its third quarter ending July 31.

HP reported a $617 million profit compared to $425 million on the year-ago quarter but most of that was caused by the firm quitting the disk drive business last year, the firm said. Revenues for the quarter were up from $9.1 billion to $10.5 billion. European sales were up 13 per cent year on year.

"Our results this quarter were mixed," said Lew Platt, chairman, CEO and president. Platt picked out growth in HP's server and PC business as bright spots.