HP Reports First Quarter 2011 Results
· First quarter GAAP diluted earnings per share up 26% year over year with non-GAAP diluted earnings per share up 27% and cash flow from operations up 28% · First quarter gross margins up 1.5 percentage points year over year to 24.4% · Continued strength in commercial hardware, with Enterprise Servers, Storage and Networking revenue up 22% year over year with growth in commercial PC Clients and Printers of 11% and 13%, respectively · Raising full year GAAP diluted earnings per share outlook to $4.46 to $4.54 and non-GAAP diluted earnings per share outlook to $5.20 to $5.28 PALO