Hewlett-Packard
Net income jumped 28 percent in the latest quarter as stronger demand for computers is helping to heal a battered technology industry.
HP said it earned $2.2 billion, or 91 cents per share, in the quarter ending April 30. It earned $1.7 billion, or 71 cents per share, a year earlier.
Excluding special items, it earned $1.09 per share. Revenue rose 13 percent to $30.8 billion.
Wal-Mart
First-quarter net income rose 10 percent as it benefited from cost-cutting and robust growth in its international business.
But the retailing giant said a key measure of revenue dropped for the fourth consecutive quarter. Revenue at stores open at least a year dropped 1.1 percent.
Wal-Mart said Tuesday net income was $3.32 billion, or 88 cents per share, for the period ended April 30. That compares with $3.02 billion, or 77 cents per share, in the year-ago period. Revenue rose almost 6 percent to $99.85 billion.
Home Depot
Customers returned to the home-improvement retailer in its fiscal first quarter, boosting the chain’s profit. Home Depot earned $725 million, or 43 cents per share, for the three-month period that ended May 2. That compares with $514 million, or 30 cents per share, during the same period last year. Revenue rose 4.3 percent to $16.86 billion.
Saks
Cutting promotions and inventory as its revenue rose helped it return to profitability in its first quarter and surpass expectations.
For the period that ended May 1, Saks’ net income was $18.8 million, or 11 cents per share. It reported a loss of $5.1 million, or 4 cents per share, a year earlier. Revenue climbed 7 percent to $667.4 million.
