Hewlett-Packard Company's net profit jumped 28 percent in the latest quarter as stronger demand for computers helped heal a battered technology sector. The company also raised its 2010 outlook, sending shares higher. Hewlett-Packard's results mark a continued growth in profit at the world's biggest maker of personal computers (PCs) and printers. While the company had been profitable even during the peak of the recession, its net profit had been shrinking each quarter. Profits have now grown for three consecutive quarters. Hewlett-Packard announced after the market closed Tuesday that its profit rose to $2.2 billion in the fiscal second quarter, which ended April 30, up from $1.7 billion in the same period a year ago. Revenue rose 13 percent to $30.8 billion, better than analysts had expected. The figures show how deeply dependent Hewlett-Packard is on PCs even as the company expands aggressively into more profitable areas, like technology services and computer networking. The company has been on a buying binge recently, as its dependence on PCs shrinks. Last month, Hewlett-Packard said it was buying smart-telephone pioneer Palm Incorporated for $1.4 billion in an effort to improve its very small mobile telephone business. Hewlett-Packard's $2.7 billion acquisition of 3Com Corporation makes the company a stronger player in computer networking.
