HP performs 'better than expected'

HP posted a "better than expected" performance during its fourth quarter despite the company facing a number of challenges, both internal and external.

There was a 3% year-on-year rise in HP's revenue during its fourth quarter, although sales declined during the period.

An increase in customer spending is expected to help drive HP's performance up next year, according to Beau Skonieczny, research analyst for computing practice at Technology Business Research.

Meg Whitman, president and CEO of HP, said in the company's financial report for its fourth quarter: "HP has a great opportunity to build on our strong hardware, software and services franchises with leading market positions, customer relationships and intellectual property.

"We need to get back to the business fundamentals in fiscal 2012, including making prudent investments in the business and driving more consistent execution."

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