Channel Beat: Earnings From HP, Salesforce, Tech Data Soar

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Hewlett-Packard surprised Wall Street this week, posting earnings that beat analysts' expectations for the third quarter. HP reported sales of $25.3 billion, and CEO Meg Whitman said the results were due to strong performance in the Enterprise Group and Enterprise Services.

Enterprise Group sales were up 2 percent, and HP posted a 22 percent increase in networking sales after acquiring Aruba Networks in May.

Salesforce also beat analyst expectations for the second quarter of the fiscal year. Salesforce showed solid growth across its major cloud services and developer platform.

Second-quarter revenue clocked in at $1.63 billion, up 24 percent from that quarter in 2014. The company now projects around $6.6 billion in revenue this year.

Tech Data posted its own record numbers for the second quarter, thanks to demand for data-center products, notebooks and services.

Tech Data's net income increased 22.4 percent during the quarter, and sales rose 8 percent. Tech Data's data-center business contributed to those results with double-digit growth. In response to the earnings, Tech Data's stock price shot up more than 18 percent.

PUBLISHED AUG. 21, 2015