HP credited the boost in non-GAAP earnings to the 93% revenue growth in the company’s services business, due to its acquisition of EDS a year ago.

"Record profit in Services, double-digit revenue growth in China, and solid cash flow demonstrate HP's ability to execute," said Cathie Lesjak, H-P executive vice president and chief financial officer. "We are investing for the future and executing operational efficiencies with the goal of driving long-term, profitable growth."

On Tuesday morning, a Reuters report cited sources at the company who said H-P was considering selling off or shutting down portions of its outsourcing business, particularly the business processes outsourcing division of EDS. H-P declined to comment on the report.

In an interview immediately following the release of the results, H-P Chief Executive Mark Hurd told FOX Business that the company is “happy with our portfolio,” in response to a question about the possible sale of EDS.

http://www.foxbusiness.com/story/markets/industries/technology/hp-beats-estimates-services-revenue/

Be well