This article is about Hewlett Packard's quarterly profits increased by 25% due to cost cutting. Revenue had risen in most of the company's technology division. Net income in the last quarter was $2.3billion or 96 cents a share, compared to $1.9billion which was 75 cents a share. Revenue increased by 8% which was above what had been forecast for that quarter.
If big companies like Packard are on the road to performing better, it just shows that the consumer confidence has risen and people are becoming more confident in the economy.
1 comment:
This is an example of how our economy is getting out of contraction by retooling and becoming more efficient. I also think that, in addition to cutting costs, we need significant investment in R&D and right now the lending markets have still not fully recovered.
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