The latest version of HP QuickWeb(7) builds on the premise that users have a need to get online fast - without waiting for long boot times -- whether they are browsing the web or using applications such as email and conferencing.
The newest version of HP QuickWeb now includes web browser, offline email, video conferencing via Skype and multiple widgets such as weather, stocks and social media apps. Financial Services growth was driven by both double-digit growth in lease volume and a healthy improvement in portfolio assets.
IT managers can now centrally manage and view mobile broadband usage for client machines with HP mobile broadband modules on their networks. Bluetooth wireless on a user's mobile phone, paired with face recognition authentication, delivers robust user access to Windows and websites.(10)
HP Power Assistant(11) software extends battery run time while reducing energy consumption through a simple, new user interface. It is an integrated solution that measures and logs reported energy usage by the PC and up to four HP connected monitors (for a total of five screens).(12) Users can now create custom power plans and track energy consumption to meet specific computing needs around the clock.
HP (NYSE:HPQ) today announced financial results for its first fiscal quarter ended January 31, 2011. Net revenue of $32.3 billion was up 4% from the prior-year period both as reported and in constant currency.
GAAP diluted earnings per share (EPS) was $1.17, up 26% from $0.93 in the prior-year period. Non-GAAP diluted EPS was $1.36, up 27% from $1.07 in the prior-year period. Information about HP's use of non-GAAP financial information is provided under "Use of non-GAAP financial information" below.
I'm pleased with our EPS and margin expansion during the quarter. Going forward, we have the opportunity to further capitalize on our customers' demands for higher value-added solutions. HP has a powerful portfolio, including exciting, recently announced cloud and connectivity offerings. We are focused on leveraging these strengths to extend our leadership and accelerate growth.
HP HP2-B40 saw balanced growth in the first quarter across all regions in local currency, with accelerated growth in BRIC countries (Brazil, Russia, India and China). Results were largely driven by momentum in the commercial sector as businesses continued to spend on technology. HP experienced uneven consumer performance across its geographies and product categories during the quarter.
The updated HP Connection Manager is a single software application that manages integrated mobile broadband connections, as well as reports the status of Ethernet and Wi-Fi connections. It now supports 3G/4G,(8) Wi-Fi(9) and Ethernet for most networks across Windows 7, Vista and XP and has been redesigned to integrate with HP Client Automation.
Non-GAAP financial information excludes after-tax costs of approximately $0.19 per share and $0.14 per share in the first quarter of fiscal 2011 and 2010, respectively, related primarily to the amortization of purchased intangibles, restructuring charges and acquisition-related charges.
Personal Systems Group (PSG) revenue declined 1% year over year with a 6.4% operating margin. PSG delivered record operating profit in the quarter and remains the PC market leader in terms of units, revenue and profit share. The commercial refresh cycle continues, and HP saw 11% year-over-year revenue growth in Commercial Clients while revenue in Consumer Clients declined 12% in the quarter.
First quarter revenue was up 6% in the Americas to $14.4 billion. Revenue was flat in Europe, the Middle East and Africa and up 7% in Asia Pacific to $12.1 billion and $5.8 billion, respectively. When adjusted for the effects of currency, revenue was up 5% in the Americas, up 4% in Europe, the Middle East and Africa and up 2% in Asia Pacific.
Revenue from outside of the United States in the first quarter accounted for 65% of total HP revenue, with revenue in the BRIC countries increasing 11% while accounting for 11% of total HP revenue.
Imaging and Printing Group (IPG) revenue grew 7% year over year with a 17.0% operating margin. IPG delivered strong performance across the business with share gains in all printing categories and 33% year-over-year growth in commercial printer hardware units. IPG continued to drive innovation and momentum with the new ePrint platform, graphic arts and other commercial print solutions.
HP HP2-B40 Software revenue grew 5% year over year with a 17.6% operating margin. HP Software expanded its security footprint with the integration of Fortify and ArcSight during the quarter.
Financial Services revenue grew 15% year over year with a 9.6% operating margin.
Services revenue declined 2% year over year with a 16.0% operating margin. Services operating margin expanded 30 basis points year over year due primarily to service delivery transformation efforts.
Enterprise Services had solid long-term signings in the first quarter, the impact of which was partially offset by softer signings in shorter term, higher value-added services and add-on IT outsourcing projects.
Enterprise Servers, Storage and Networking (ESSN)revenue grew 22% year over year with a 14.7% operating margin. ESSN delivered a solid quarter, demonstrating increased value to customers as they transition to hybrid cloud environments through a converged infrastructure, including innovations in servers, storage and networking.
The newest version of HP QuickWeb now includes web browser, offline email, video conferencing via Skype and multiple widgets such as weather, stocks and social media apps. Financial Services growth was driven by both double-digit growth in lease volume and a healthy improvement in portfolio assets.
IT managers can now centrally manage and view mobile broadband usage for client machines with HP mobile broadband modules on their networks. Bluetooth wireless on a user's mobile phone, paired with face recognition authentication, delivers robust user access to Windows and websites.(10)
HP Power Assistant(11) software extends battery run time while reducing energy consumption through a simple, new user interface. It is an integrated solution that measures and logs reported energy usage by the PC and up to four HP connected monitors (for a total of five screens).(12) Users can now create custom power plans and track energy consumption to meet specific computing needs around the clock.
HP (NYSE:HPQ) today announced financial results for its first fiscal quarter ended January 31, 2011. Net revenue of $32.3 billion was up 4% from the prior-year period both as reported and in constant currency.
GAAP diluted earnings per share (EPS) was $1.17, up 26% from $0.93 in the prior-year period. Non-GAAP diluted EPS was $1.36, up 27% from $1.07 in the prior-year period. Information about HP's use of non-GAAP financial information is provided under "Use of non-GAAP financial information" below.
I'm pleased with our EPS and margin expansion during the quarter. Going forward, we have the opportunity to further capitalize on our customers' demands for higher value-added solutions. HP has a powerful portfolio, including exciting, recently announced cloud and connectivity offerings. We are focused on leveraging these strengths to extend our leadership and accelerate growth.
HP HP2-B40 saw balanced growth in the first quarter across all regions in local currency, with accelerated growth in BRIC countries (Brazil, Russia, India and China). Results were largely driven by momentum in the commercial sector as businesses continued to spend on technology. HP experienced uneven consumer performance across its geographies and product categories during the quarter.
The updated HP Connection Manager is a single software application that manages integrated mobile broadband connections, as well as reports the status of Ethernet and Wi-Fi connections. It now supports 3G/4G,(8) Wi-Fi(9) and Ethernet for most networks across Windows 7, Vista and XP and has been redesigned to integrate with HP Client Automation.
Non-GAAP financial information excludes after-tax costs of approximately $0.19 per share and $0.14 per share in the first quarter of fiscal 2011 and 2010, respectively, related primarily to the amortization of purchased intangibles, restructuring charges and acquisition-related charges.
Personal Systems Group (PSG) revenue declined 1% year over year with a 6.4% operating margin. PSG delivered record operating profit in the quarter and remains the PC market leader in terms of units, revenue and profit share. The commercial refresh cycle continues, and HP saw 11% year-over-year revenue growth in Commercial Clients while revenue in Consumer Clients declined 12% in the quarter.
First quarter revenue was up 6% in the Americas to $14.4 billion. Revenue was flat in Europe, the Middle East and Africa and up 7% in Asia Pacific to $12.1 billion and $5.8 billion, respectively. When adjusted for the effects of currency, revenue was up 5% in the Americas, up 4% in Europe, the Middle East and Africa and up 2% in Asia Pacific.
Revenue from outside of the United States in the first quarter accounted for 65% of total HP revenue, with revenue in the BRIC countries increasing 11% while accounting for 11% of total HP revenue.
Imaging and Printing Group (IPG) revenue grew 7% year over year with a 17.0% operating margin. IPG delivered strong performance across the business with share gains in all printing categories and 33% year-over-year growth in commercial printer hardware units. IPG continued to drive innovation and momentum with the new ePrint platform, graphic arts and other commercial print solutions.
HP HP2-B40 Software revenue grew 5% year over year with a 17.6% operating margin. HP Software expanded its security footprint with the integration of Fortify and ArcSight during the quarter.
Financial Services revenue grew 15% year over year with a 9.6% operating margin.
Services revenue declined 2% year over year with a 16.0% operating margin. Services operating margin expanded 30 basis points year over year due primarily to service delivery transformation efforts.
Enterprise Services had solid long-term signings in the first quarter, the impact of which was partially offset by softer signings in shorter term, higher value-added services and add-on IT outsourcing projects.
Enterprise Servers, Storage and Networking (ESSN)revenue grew 22% year over year with a 14.7% operating margin. ESSN delivered a solid quarter, demonstrating increased value to customers as they transition to hybrid cloud environments through a converged infrastructure, including innovations in servers, storage and networking.
