Compaq deal boosts HP profits
Technology giant Hewlett-Packard announced a growth of quarterly profit to $862m (€722.3m) as a result of robust sales growth in consumer sales and technology services.
HP chairman and CEO Carly Fiorina said the company was starting to reap benefits since spearheading the controversial acquisition of Compaq, completed in 2002, which was the largest deal in tech history.
HP competes with Dell for the leading position in the personal computer market and with IBM in the tech services industry.
The company said that it had revenue gains of 11% from a year earlier in its printer and imaging sector.
For the 2003 fiscal year, HP showed a net profit of $2.53bn (€2.12bn) in sales.
That compared with a loss of $928m (€777.7bn) on sales a year earlier.
