- New ‘Call of Duty’ rakes in $310 million in 1 day
- Intel settles AMD claims but isn't off the hook
- 'Call of Duty' sells $310M in N Amer, UK in 24 hrs
- HP's 3Com takeover marks a shot at Cisco
- Applied Materials to cut 1,300 to 1,500 jobs
- Drug industry presses FDA to allow more online ads
- Watch concerts free online at BillboardLive.com
- Yahoo CEO pledges to boost profit margins
MOST SHARED
- Seeking Innovation in Health Care
- Today's Market Action
- Microsoft's Bill Gates Praises Apple's Steve Jobs For 'Saving the Company'
- Israel: Leader of Business Innovation
- Inside Wal-Mart's Acai Berry Juice Maker
- Low Interest Rate Investing
- Herbalife Vs. Hedge Funds
- Novo Nordisk CEO on Diabetes Epidemic
- Warren Buffett and Bill Gates: Keeping America Great
- Week Ahead: Investors Go for Quality, Assess Recovery
- Oil Next Week: What Traders Will Be Watching
- Hedge Fund Billionaire Paulson Reports New Citi Stake
- Cramer: 5 Earnings Reports to Watch Next Week
- Court Rejects 'Clawbacks' for Alleged Stanford Victims
- Tax Credit Sparking First-Time Home Sales: Realtors
- Investors Cut Back US Stocks for Bigger Growth Abroad
- Cities With the Most Home Price Reductions
- White House Plans to Freeze Spending to Cut Deficit
- This Year's Biggest Thanksgiving Leftover: Cash
- Oil Next Week: What Traders Will Be Watching
Text Size 
Hewlett-Packard posted stronger-than-expected preliminary fourth-quarter results and issued an earnings forecast for next year that is higher than analysts were expecting.
 |
AP Hewlett Packard |
Shares of the technology [HPQ
Loading...
()
] bellwether jumped more than 29 percent and helped drive other technology shares higher.
HP benefited from its global reach, diverse customer base and portfolio and numerous cost initiatives, said Mark Hurd, HP chairman and chief executive officer, in a press release.
In the face of a weak economy, the world's largest maker of personal computers said it expects to report fourth-quarter earnings of 84 cents a share.
The results will be $1.03 a share, on a non-GAAP basis, which adjusts for items such as amortization, restructuring and acquisition-related charges.
Revenue is expected to climb about 19 percent to $33.6 billion, or an increase of 16 percent when currency effects are stripped out.
Analysts were expecting HP to earn $1.00 a share, excluding items, on revenue of $33.1 billion, according to Reuters estimates.
HP will report its full results on Nov. 24.
HP also issued its forecast for 2009. The estimate calls for the company to report fiscal first-quarter earnings of about $32 billion to $32.5 billion.
Earnings per share in the first quarter will be in the range of 80 cents to 82 cents, or 93 cents to 95 cents on a non-GAAP basis.
The non-GAAP earnings per share estimates exclude after-tax costs of about 13 cents a share, related primarily to the amortization of purchased intangibles.
For the full fiscal year 2009, HP expects revenue of about $127.5 billion to $130.0 billion.
Earnings are expected to be in the range of $3.38 to $3.53 a share.
Non-GAAP diluted earnings per share will be between $3.88 to $4.03 a share. The non-GAAP results exclude after-tax costs of about 50 cents a share, primarily tied to the amortization of purchased intangibles.
According to Reuters, analysts were estimating HP would earn $3.86 a share, excluding items, on revenue of $135.2 billion for fiscal 2009.
Note: An earlier story incorrectly said fourth-quarter revenue was expected to be $32 billion, not $33.6 billion.
Print
Email
- Warren Buffett and Bill Gates spoke to Columbia students, and Buffett made the students a startling offer.
- For the chief of cable company Comcast, growth has been about making deals – generally very large deals.
- Some companies may start using insurance to shift carbon risk from their balance sheets to maybe... yours?
- The president and founder of Genesis Today wants to improve America’s health, and thinks Wal-Mart can help.
- Switzerland's privacy watchdog is taking legal action to force Google to make changes to its Street View service.
- A wealthy, distracted Texas driver crashed his million-dollar Bugatti Veyron sports car into a salt marsh, say police.
Data is a real-time snapshot *Data is delayed at least 15 minutes