HP beat analysts estimates with its third quarter results last night, becoming the latest big-name technology vendor to reap the benefits of strong storage growth.
The vendor, which recently threw down $13.9 billion to buy services giant EDS, reported revenue of 28 billion, up 10 percent on the same period last year, and above analyst estimates of $27.4 billion.
HPs earnings were 80 cents on net income of $2.5 billion, up from 66 cents and $2.1 billion in the third quarter of 2007.
On a non-GAAP basis the vendors earnings were 86 cents per share on net income of $2.7 billion, compared to 71 cents and $2.3 billion in the same period last year. Analysts had estimated earnings of 83 cents.
"When you look at the enterprise in the U.S. from a storage perspective, from a software perspective, from a services perspective, from a Blades perspective, this was a really strong quarter for us, said Mark Hurd, the HP CEO, during a conference call last night. We think we are executing within the hand that weve got available to execute with.
With the move to the cloud, CISOs must shift priorities from operating security programs to overseeing (monitoring and auditing) outsourced cybersecurity programs.
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