Commenting on the company's fourth quarter result its Chairman and Chief Executive Officer Mark Hurd said: "HP's solid performance in services drove record profit."

In the services segment, revenue increased 8 per cent to USD 8.9 billion, while Infrastructure Technology Outsourcing reported revenue of USD 4.1 billion.

The company's net earning for the fourth quarter ended October 31, 2009 stood at USD 2.4 billion from USD 2.1 billion recorded in the year, HP said in a statement.

Further, HP's earnings were elevated due to its buy out of technology services company Electronic Data Systems in 2008.

However, on year-on year basis the company's revenues saw a dip. It fell 8 per cent over year-ago period to USD 30.8 billion.