Revenue for HP in Europe grew 22% in Q4

HP has posted its financial results for its fourth fiscal quarter, which ended Oct. 31, 2008, with net revenue of $33.6 billion, up 19% from a year earlier. Excluding EDS revenue, net revenue grew 5% year over year or 2%. (Not adjusted for currency affects.) In the fourth quarter, GAAP operating profit was $2.7 billion and GAAP diluted earnings per share (EPS) was $0.84, up from $0.81 in the prior-year period. Non-GAAP operating profit was $3.4 billion, with non-GAAP diluted EPS of $1.03, up from $0.86 in the prior-year period. Non-GAAP financial information excludes $482 million of adjustments on an after-tax basis, or $0.19 per diluted share, related primarily to amortization of purchased intangible assets, restructuring charges, acquisition-related charges and in-process research and development charges. Revenue grew 17% in the Americas, 22% in Europe, the Middle East and Africa and 14% in Asia Pacific to $14.0 billion, $14.1 billion and $5.5 billion, respectively. When adjusted for the effects of currency, revenue grew 17% in the Americas, 15% in Europe, the Middle East and Africa and 12% in Asia Pacific. Revenue from outside of the United States in the fourth quarter accounted for 68% of total revenue, with revenue in the BRIC countries (Brazil, Russia, India and China) growing 23% over the prior-year period and accounting for 9% of total revenue.