HP earnings up. Way up.

Looks like someone had a pretty good 1st Quarter, right? Hewlett Packard has just announced that their net earnings from Q1 of this year amounted to $2.1 billion, which is an increase of 38% over earnings from the same period of time last year. This comes of a 13% hike in gross revenue to $28.5 billion, which is significantly more than most analysts expected. Take that, global recession! Based on these strong numbers, HP has re-tooled some of its estimates for the coming year, and is now projecting a total yearly revenue of $114 billion, which would amount to a 9% increase over last year’s numbers, and is $3 billion more than they initially thought. Even taking fluctuations in currency value and inflation into account, HP seems to be bucking the downward trends we’ve been seeing as of late. Not bad. Not bad at all.

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