HP reports better than expected results. FY2Q sales amounted to $28.3bn (+11%) and the net profit was $2.1bn (+16%). Regional sales were respectively $11bn in America (+4%), $12bn in EMEA (+16%), $5.2bn in APAC (+16%). Export sales amounted to 70% of total sales. PC sales amounted to $10bn (+16%), Imaging and Printing sales were $7.5bn (6%); Servers and Storage were $4.8bn (+4%); services sales grew 12% to $4.6bn, while software sales rose 28% to $727m.
NEC announced FY08 net profit doubling to $216m, on revenues of $44bn, down 1%. Sales dropped in electronic parts and PC business in Europe, while costs cuts and overseas mobile phone market withdrawal have buoyed earnings.
Nortel has been upgraded to positive by S&P ratings services (from stable).