PALO ALTO, Calif., HP today announced financial results for its second fiscal quarter ended April 30, 2010, with net revenue of $30.8 billion, up 13 percent from a year earlier including a favorable currency benefit of four percentage points.

In the second quarter, GAAP diluted earnings per share (EPS) was $0.91, up from $0.71 in the prior-year period. Non-GAAP diluted EPS was $1.09, up from $0.86 in the prior-year period. Non-GAAP financial information excludes after-tax costs of approximately $0.18 per share and $0.15 per share in the second quarter of fiscal 2010 and 2009, respectively, related primarily to the amortization of purchased intangibles, restructuring charges and acquisition-related charges.

"HP had an exceptional quarter with strong performance across every region," Mark Hurd, HP chairman and chief executive officer said in a released statement. "We've built the best portfolio in the industry, and our customers are responding. We're winning in the marketplace, investing for the future and confident in the enormous opportunity that lies ahead."

With regard to its Imaging and Printing Group, HP noted, that its Imaging and Printing Group (IPG) revenue increased 8 percent to $6.4 billion. Supplies revenue was up 6 percent, while Commercial hardware revenue and Consumer hardware revenue increased 13 percent and 16 percent, respectively. Printer unit shipments increased 9 percent, with Commercial printer hardware units down 8 percent and Consumer printer hardware units up 15 percent. Operating profit was $1.1 billion, or 17.2 percent of revenue, versus $1.1 billion, or 18.2 percent of revenue, in the prior-year period.