HP's Q3 reveals computer shipments up 20%

HP's third quarter financial statements, released today, showed an increase in computer shipments of 20 percent and an increase in notebook profit of 26 percent. Those numbers are significantly less than one of their main competitors, Apple, that just reported computer shipments up 41 percent with a 43 percent increase in revenue. Despite the growth differences in the computer sector, HP still dominated in overall revenue of $28 billion, almost quadruple Apple's numbers for the quarter.

"By accelerating our enterprise growth and executing well across the portfolio, HP delivered a strong third quarter performance," said HP CEO/Chairman Mark Hurd. The enterprise growth was supported by strong sales in the midrange EVA storage line and low-end MSA line, both growing by 19 percent. HP's software revenue grew by 29%, mainly fueled in the "Business Technology Optimization" portfolio. HP estimates fourth quarter revenue to reach $30 billion.