Hewlett Packard has turned in a net profit of $929 million on turnover of $11.8 billion, a rise in profitability of only 1.9 per cent quarter on quarter.
While the company's turnover grew by a respectable 21 per cent in the USA, it only managed growth of 8 per cent in Europe and HP blamed the poor overall growth on fluctuating currency.
HP said that its server business posted "mixed results". While Unix boxes performed well, its HP NetServer family only showed a slight increase.
The HP LaserJet and inkjet families continued to perform strongly, while services and software showed good revenue growth, the company said.
Growth in HP's storage products was described as "excellent".
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