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Last Updated: Friday, 20 February, 2004, 08:09 GMT
Hewlett Packard sees rising sales
Hewlett-Packard logo
Hewlett Packard has provided further evidence of a rebound in the technology industry after reporting higher profits and forecasting an increase in sales.

Profit at the world's biggest maker of personal computers jumped 30% to $936m (494.7m) in the three months ending January 31 from $721m a year earlier.

In the second quarter, sales will rise to $19.2bn, the company said, towards the top end of market estimates.

Analysts expect the company to benefit from continued consumer spending.

More choice

Hewlett Packard has focused on selling more products such as digital cameras and printers as rivals such as Dell slash the price of personal computers to attract buyers.

The company's printer division now accounts for about 16% of total sales.

Despite the fierce competition, sales of PCs surprised many analysts, showing a 20% increase in the first quarter from a year earlier.

Hewlett Packard merged last year with Compaq and some investors said Thursday's figures proved that that move was right.

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