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Hewlett-Packard 1Q Profit Up 26 Percent

Wednesday, February 21, 2007 1:18:10 AM
By JORDAN ROBERTSON

Hewlett Packard desktops are on display at a Best Buy store in Mountain View, Calif., Saturday, Feb. 17, 2007. Hewlett-Packard Co. is scheduled to report its first quarter results after financial markets close, Tuesday, Feb. 20, 2007. (AP Photo/Paul Sakuma)SAN FRANCISCO (AP) - Hewlett-Packard Co. continued to steal a major slice of the personal computer market from struggling rival Dell Inc. in the first quarter — and analysts said HP still has room to grow.

HP said revenue from laptop sales jumped 40 percent in the quarter compared with the same period a year ago. At the same time, revenue from desktop computer sales dropped 1 percent as their portable counterparts become increasingly pervasive.

Analysts said the surging laptop sales indicated HP was making aggressive market-share gains at Dell's expense in a fast-growing industry segment and has enough momentum to extend its expansion.


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