Brief: Hewlett-Packard Tops Estimates

SAN MATEO (08/18/2000) - Hewlett-Packard Co. this week reported higher-than-expected third-quarter earnings, citing its aggressive Internet approach as well as growing PC demand as reasons for increased revenue. For the period ending July 31, the Palo Alto, Calif.-based vendor reported net income of US$1.04 billion on net revenue of $11.8 billion, increases of 23 percent and 15 percent, respectively, year over year.

Diluted earnings per share were 99 cents, up from 66 cents in the same period a year ago. First Call/Thompson Financial polled 20 analysts who predicted earnings per share of 85 cents.

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