Hewlett-Packard has confirmed strong second-quarter results in the wake of its industry-shaking acquisition of EDS last week. The technology and services giant reported net revenues of $28.3 billion for the quarter, an increase of 11% year on year.

HP Services revenues increased 12% year on year to $4.6 billion, with strong growth in Outsourcing (14%). 70% of the company's revenues now come from outside the US, with business growing particularly fast in Brazil, Russia, India and China.

During the conference call, CEO Mark Hurd batted aside industry concerns about the complexity of turning the massive deal into a well-integrated and managed cultural fit and said that the EDS deal would extend HP's reach into enterprise accounts, encourage new business and bolster outsourcing margins.

Analyst firm Ovum said: "We still have some serious questions regarding the forthcoming EDS integration, but we suspect that in the short term HP's consistent financial performance of the last year, coupled with Hurd's continued focus on cost savings, effective execution and streamlined operations, will lead many to give HP some leeway as it leads EDS down the path toward 'the HP way'.”