March 10, 2008 / 10:19 AM / 10 years ago

HP says overseas markets offsetting U.S. slowdown

TEL AVIV, March 10 (Reuters) - A senior Hewlett Packard (HPQ.N) official said on Monday he did not believe an economic slowdown in the United States was hurting the company’s business since other regions were doing well.

“You will see some slowdown in the United States. You can kind of see that from our results,” Stephen Nigro, senior vice president of HP’s imaging and printing group, told Reuters on the sidelines of a conference in Tel Aviv.

“But HP is an international company where almost 70 percent of our revenue now comes from outside the United States. Because of the global nature of our busines and our business profile, we are able to basically absorb those sorts of regional slowdowns,” he said.

Nigro said that while other large companies had weak quarterly earnings, HP’s fiscal first-quarter earnings were very good, boosted by solid sales in both the United States and abroad.

    “We are really performing well even in markets that have a slowdown,” he said. (Reporting by Brenda Gazzar; Writing by Steven Scheer; Editing by Quentin Bryar)

    0 : 0
    • narrow-browser-and-phone
    • medium-browser-and-portrait-tablet
    • landscape-tablet
    • medium-wide-browser
    • wide-browser-and-larger
    • medium-browser-and-landscape-tablet
    • medium-wide-browser-and-larger
    • above-phone
    • portrait-tablet-and-above
    • above-portrait-tablet
    • landscape-tablet-and-above
    • landscape-tablet-and-medium-wide-browser
    • portrait-tablet-and-below
    • landscape-tablet-and-below