"HP delivered another solid quarter with strong revenue growth, improved margins and healthy cash flow," says Mark Hurd, HP CEO and president. "We gained share without sacrificing margins and continue to execute well against our long-term plan. This is visible in our third quarter results and improved fourth quarter outlook."

During the quarter, on a year-over-year basis, revenue in the Americas grew by 8% to $9,7bn, revenue in Europe, the Middle East and Africa grew by 2% to $8,4bn, and revenue in Asia Pacific grew by 7% to $3,8bn. When adjusted for the effects of currency, revenue in the Americas grew by 7%, revenue in Europe, the Middle East and Africa grew by 3%, and revenue in Asia-Pacific grew by 8%.
 

Personal Systems Group (PSG) revenue grew by 8% year-over-year to $6,9bn, with unit shipments up by 14%. On a year-over-year basis, desktop revenue increased by 5% and notebook revenue grew by 14%. Commercial client revenue grew by 4% year-over-year, while consumer client revenue increased by 17%. Operating profit was $275m, or 4% of revenue, up from a profit of $163m, or 2,6% of revenue, in the prior year period.
 
Imaging and Printing Group (IPG) revenue grew by 5% year-over-year to $6,2bn. On a year-over-year basis, supplies revenue grew by 9%, commercial hardware revenue grew by 3% and consumer hardware revenue declined by 3%. Printer unit shipments increased by 15% year-over-year, with consumer printer hardware units up by 13% and commercial printer hardware units up by 23%.

Momentum in key growth initiatives continued, with All-in-One unit shipments up by 17% year-over-year, colour laser printer shipments up by 70% and printer-based MFP shipments up by 196%. HP Indigo Press printed page volume grew by 37% over the prior year period. Operating profit was $884m, or 14,2% of revenue, up from a profit of $771m, or 13% of revenue, in the prior year period.
 
HP estimates Q4 FY06 revenue will be approximately $24,1bn.