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HP has released its third quarter 2010 results, showing a net revenue of $30.7bn (£19.8bn) – an 11.4 percent increase from the previous year.

The technology company's Imaging and Printing Group, which includes sales of wide-format printing equipment, experienced a nine percent rise in revenue to $6.2bn (£4bn). Supplies revenue increased by five percent and commercial hardware revenue climbed by 28 percent. Printer unit shipments went up by 16 percent, with commercial printer hardware units increasing by 44 percent.

"The broad-based strength of HP's Q3 performance further demonstrates the power of our strategy and the discipline of our execution," comments Cathie Lesjak, chief financial officer and interim chief executive officer at HP. "We raised our full-year outlook and are continuing to build momentum in driving out costs, investing for profitable growth and capitalising on HP's competitive advantages in the marketplace."

The results were for HP's third fiscal quarter, ending July 31st.