Brief: HP Reports Slim Q2 Profit Growth

BOSTON (05/17/2000) - Hewlett-Packard Co. yesterday reported a narrow increase in profits for its second fiscal quarter, ended April 30, driven primarily by higher sales of its desktop and notebook PCs.

HP's net profits totaled $935 million in the second quarter, up 2 percent from the year-earlier figure of $918 million. On a continuing operations basis, profits for the computer vendor - which has spun off its test and measurement equipment business into a separate company - rose 7 percent to $816 million, up from $766 million for last year's second quarter, according to HP.

Total revenue from HP's continuing operations increased 15 percent to $12.0 billion in the second quarter. Sales of notebook PCs jumped 180 percent from the same period last year, while home PC sales grew 85 percent, the company said.

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