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HP: Believe The Hype

Call it a blockbuster quarter for HP . The company delivered a 25% rise in first-quarter profit of $2.3 billion.

Maria Bartiromo spoke with HP Chairman, CEO & President Mark Hurd about the company's earnings performance. Hurd said "it was a goodquarter for us. We saw 27% growth in our server business. 20% growth in our PC business." HP's chief also said it was one of the best quarterly numbers seen in the firm's printer unit where the business saw 16% growth.

Hewlett-Packard's headquarters in Palo Alto, California.
AP
Hewlett-Packard's headquarters in Palo Alto, California.

Internationally, the story remained solid for HP. Hurd told Bartiromo they are seeing broad-based improvement in Asia and the U.S. When asked about Europe, Hurd said "we probably haven't seen the breakout in Europe that we've seen in the other two regions."

Outside of earnings, HP also raised its 2010 outlook, citing "accelerating market momentum." Hurd believes 2010 will be a better year than 2009 when it comes to the consumer. He also believes it will be a strong year for the company overall. Hurd told Bartiromo "we feel great about the way we are positioned strategically. We feel good about our server business….and the resurgence in printing is not only good news for us, but for the whole economy."

(Hear the whole interview here)

Donna Burton contributed to this article.

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