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HP Posts Strong Quarter

Hewlett-Packard Co. (NYSE: HPQ) today announced a strong set of second-quarter results, buoyed by good blade server performance.

The Palo Alto, Calif.-based company reported record revenues of $20.1 billion, up 12 percent on the same period last year.

HP's shares were up 33 cents (1.66%) from $19.50 to close at $19.83.

HP's non-GAAP operating profit was $1.3 billion, up 17 percent year-over-year. Non-GAAP earnings per share were 34 cents, also up 17 percent. GAAP operating profit was $1.1 billion, up 77 percent year-over-year, whereas GAAP EPS were 29 cents, up 32 percent compared to the same period last year.

The company's Enterprise Storage and Servers group reported revenues of $4 billion, up 8 percent year-over-year led by 15 percent growth in standard servers.

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