Hewlett Packard has announced its financial results for the third fiscal quarter ended July 31, 2009, with net revenue of $27.5 billion, down two per cent from a year earlier and up four per cent when adjusted for the effects of currency.

In the third quarter, GAAP operating profit was $2.2 billion and GAAP diluted earnings per share (EPS) was $0.67, down from $0.80 in the prior-year period.

“HP’s performance this quarter is a result of our strong business portfolio, efficient cost structure and scale. We made positive gains in extending our market leadership in key segments and strengthening our competitive position,” said Mark Hurd, HP chairman and chief executive officer. “Business is stabilising, and we are confident that HP will be an early beneficiary of an economic turnaround and will continue to outperform when conditions improve.”

Revenue grew eight per cent in the Americas to $12.6 billion. Revenue declined 12 per cent in Europe, the Middle East and Africa and four per cent in Asia Pacific to $9.9 billion and $5.0 billion, respectively. Revenue from outside the United States in the third quarter accounted for 62 per cent of total revenue, with revenue in the BRIC countries (Brazil, Russia, India and China) declining six per cent over the prior-year period while accounting for 10 per cent of total HP revenue.