Led by the company’s commercial businesses growth
HP has reported a rise in revenue by 1% to $31.2bn in the third quarter 2011, compared to the prior-year quarter.
The company’s commercial businesses saw a 5% revenue growth, though consumer businesses, within Personal Systems Group (PSG) and Imaging and Printing Group (IPG), were collectively down 15% during the quarter.
Third quarter revenue in the Middle East and African markets was $14.1bn and $11bn, respectively.
Revenue in Asia Pacific was $6.1bn, representing a 9% increase, though it has declined by 2% in the US, down 5% in Europe, the Middle East and Africa, and up 1% in Asia Pacific.
Revenue from outside of the US in the third quarter accounted for 65% of total HP revenues.
BRIC countries (Brazil, Russia, India and China) generated revenue of $3.7bn, up 12% over the year-ago period, accounting for 12% of total HP revenue.
Services revenue grew 4% with a 13.5% operating margin, while enterprise servers, storage and networking (ESSN) revenue grew 7% with a 13% operating margin.
Networking was up 15%, Industry Standard Servers was up 9%, Business Critical Systems was down 9%, and HP Storage was up 8%.
HP Software revenue grew 20%, driven by strong growth in licenses and services of 29% and 30%, respectively.
HP forecasts revenue of about $32.1bn to $32.5bn for the fourth quarter of 2011.