Wednesday, February 17, 2010

HP (NYSE HPQ) 1st quarter 2010 results -- back to printing green!

HP's earnings came out today after the markets closed and the company reported some major good news. In addition to an overall 25% profit increase, exceeding analyst consensus expectations, and updated positive guidance looking ahead, the Imaging and Printing Group enjoyed an impressive turnaround.

In all but two of the unit sales and revenues categories HP reports for IPG, including overall supplies revenues, commercial and consumer units sold and revenues, printer-based MFPs and Indigo digital press pages, their first quarter numbers showed ear-to-year quarterly increases versus year-to-year decreases for Q4 2009, and in many cases, for a number of quarters before that. The only two exceptions? Color laser printers were still down, but by a trifling 1%, and Indigo pages registered an up-tick over Q4's (and recent history's) consecutive series of gains.

More on the commentary in a coming blog post, but for now, congrats HP!

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