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H-P's Q2 profit increases to $2.1B
Hewlett-Packard Co. on Tuesday reported second-quarter net income of $2.1 billion, or 80 cents a share, compared with $1.8 billion, or 65 cents a share, in the same period last year.

The Palo Alto-based technology heavyweight had revenue of $28.3 billion, up 11 percent from the year-ago quarter's $25.5 billion.

Revenue in the Americas increased 4 percent on a year-over-year basis to $11.1 billion. Revenue gained 16 percent in Europe, the Middle East and Africa to $11.9 billion, and 16 percent in Asia Pacific to $5.2 billion.

Excluding items, H-P's earnings would have been $2.2 billion, or 87 cents a share, compared to $1.9 billion, or 70 cents a share.

Analysts expected, on average, earnings of 84 cents a share on $28 billion in revenue.

Looking ahead, H-P (NYSE: HPQ) estimates third-quarter revenue to be in the range of $27.3 billion and $27.4 billion, with earnings per share from 76 cents to 77 cents.
http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=ACBJ&date=20080520&id=8672983