HP reports strong earnings

Hewlett-Packard has reported a 25% increase in net earnings for the second quarter of fiscal 1996, which ended on April 30. Net revenue grew 33% and orders jumped 24% over the same quarter last year, HP officials say.

Net earnings for the quarter were US$723 million, compared with US$578 million for the previous period last year, officials say.

Net revenue for the quarter was US$9.9 billion, compared with US$7.4 billion in the year-ago quarter, they say. Net revenue in the US was US$4.4 billion, up 39% from the second quarter last year, while net revenue from outside the US rose 28% to US$5.5 billion, officials say.

Orders for the quarter reached US$10.1 billion, compared with US$8.1 billion in the same quarter last year, they says. US orders jumped 33% to US$4.7 billion, while orders from outside the US increased 18% to US$5.4 billion.

HP is based in Palo Alto, California and can be reached on the Web at http://www.hp.com/go/internet.

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