Hewlett Packard outstripped IBM in revenue in the fourth quarter of last year despite the global economic downturn with particularly strong demand for its products in the US market, according to the latest business benchmark study by research firm, Technology Business Research (TBR).

TBR senior analyst John Spooner says that despite the fourth quarter hit, HP was able to leverage its strong portfolio of products and services as well as its EDS acquisition to ward off the more severe declines that plagued competitors.

“In fact, HP shined in the U.S. storage market and witnessed strong demand from customers in the healthcare and energy vertical markets in the Americas. Additionally, with $8.2 billion, HP achieved the highest PC revenue of its competitors during the worst quarter to date for the PC industry.”

Spooner says HP is outperforming its peers thanks to its broad channel alliances as well as the scale and efficiency of its operations.

However, in the overall industry revenue stakes, TBR’s survey shows Apple leading the pack for revenue growth, with the company relying on its iPhone and iTunes businesses to help it withstand the tough economy.

According to TBR, Apple’s recent introductions, including the iPhone 3G in 3Q08 and the new MacBook in 4Q08, compensated for steep revenue declines from iMac desktop PCs and iPods.
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