HP Financial Service Down $19MM

HP Financial Services (HPFS) reported revenue of $518 million, a decrease of 5% year-over-year.

Finance volume decreased 14% over the prior year period, and net portfolio assets grew 1%.

Operating profit was $39 million, or 7.5% of revenue, down from a profit of $58 million, or 10.7% of revenue, in the prior year period.

Full HP financial report:

http://www.hp.com/hpinfo/investor/financials/quarters/2006/q2.html