Hewlett-Packard, the world’s largest computer maker, easily beat analysts' third-quarter profits forecasts, benefiting from surging sales of laptop computers and demand for high-margin printer ink.

The group also signalled that it was preparing to expand its footprint in the IT services market in the UK, a sector seen as ripe for consolidation.

“We are very strong financially and we will look at opportunities to expand our portfolio in services and software,” Francesco Serafini, the head of Hewlett-Packard's European business, told Times Online.

Meanwhile, Dell, the second-largest PC maker, said that it had completed the internal probe into accounting irregularities that has overshadowed the company since last year.

Dell said that it had overstated net income over a four-year period going back to 2003 by between $50 million and $150 million as "senior executives" massaged figures so ensure that quarterly targets would be hit.

Hewlett-Packard reported net income for the quarter of $1.78 billion (£900 million), up a 29 per cent jump on the same period a year earlier.

Sales were $25.38 billion, up 16 per cent and beating analyst forecasts of about $24 billion.

The performance further burnishes the reputation of Mark Hurd, the Hewlett-Packard chief executive.

Since Mr Hurd became chief executive in 2005, when he replaced Carly Fiorina, H-P’s market capitalisation has doubled to about $120 billion and the group has overtaken Dell, its arch rival, in terms of sales.

The strong figures were driven by Hewlett-Packard's Personal Systems Group, which includes desktop and laptop computers and is the group’s biggest source of revenue.

Sales at the division climbed to $8.9 billion, up from 6.9 billion a year earlier, bolstered by a 54 per cent surge in laptop sales.

Bill Shope, the JPMorgan analyst, said: “Revenue upside appears to have been driven by consumer notebooks, and favourable component prices boosted profitability.”

Hewlett-Packard accounted for about 19 per cent of the worldwide PC market in the second quarter, compared with second-placed Dell's 16 per cent, according to IDC, the market researcher.

There was also good news from the company's imaging and printing group.

The unit’s high-margin inkjet cartridges have long been a cash cow, but observers have recently queried the business’s prospects in the wake of increased competition from rivals such as Eastman Kodak.

Quarterly operating profit at the printer division rose 11 per cent from $884 million to $981 million.

The unit provided nearly 40 per cent of the company's total operating profit.

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