Hewlett-Packard profit up 26 percent

Hewlett-Packard (HP), the world's largest personal computer maker, has reported a 26 percent rise in first-quarter profits on surging sales of its notebook computers.

The Palo Alto, California-based company Tuesday said net income climbed to $1.55 billion in the quarter ending Jan 31, from $1.23 billion in the year-earlier period. Revenue was up 11 percent to $25.1 billion, while notebook computer sales jumped 40 percent to $4.1 billion.

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HP CEO Mark Hurd said the results signalled a strong start to the fiscal year.

"We have a lot of work and opportunities ahead of us. I am confident we can continue to execute with discipline and deliver a year of strong financial returns," Hurd said in a statement.