HP Financial Services (HPFS) saw a 14%
increase in revenue in the third quarter of this year compared to
Q3 2009, its latest financial results show.
Parent company Hewlett Packard
(HP) announced its results for the three months ended 31 July
2010, and its financing arm, under which its leasing activities
fall, saw revenue rise to $764m (€602 million) from $670m for the
same period in 2009.
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Its total financing volume rose 3%, net
portfolio assets by 13% and operating margin by 9.4%, up from 7.9%
in Q3 2009.
Compared to the three months ended 30 April
2010, net revenue was up just over 1%, from $755m.
HP as a
whole saw a rise in net revenue to $30.7 billion, up 11.4%
from the year before, which included currency benefit of about one
percentage point.
claire.hack@vrlfinancialnews.com
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