WHEN: Today, Wednesday, November 27th
WHERE: CNBC's "Squawk on the Street"
Following are excerpts from the unofficial transcript of a CNBC EXCLUSIVE interview with HP CEO Meg Whitman today on CNBC's "Squawk on the Street." Following is a link to the interview on CNBC.com: http://video.cnbc.com/gallery/?video=3000221922.
All references must be sourced to CNBC.
WHITMAN ON STABALIZING NOT GROWING
Well it is a pivotal year for HP and what we said at our security analyst meeting about 6 weeks ago is you should expect revenue to stabilize, probably not grow in 2014 but stabilize and you'll see real progress in terms of our innovation, our operational excellence and our ability to deliver great products for the customers. So it is an important year.
WHITMAN ON GROWTH BUSINESSES
Well this is a big company with a lot of moving parts and we've got declining businesses, we've got businesses that are about flat and we have our growth businesses. And the question of revenue growth is really going to be how fast can we grow those growth businesses that really pivot to what I call the new style of IT where technology is going and then can we slow the decline of some of our legacy businesses.
WHITMAN ON EUROPE, CHINA, U.S.
EMEA, 41 percent of Hewlett Packard's revenue comes from Europe. This company got to Europe very early and it has been a great growth vehicle for many years. But Europe, still, we see a lot of weakness in the European economy. may be stabilizing a bit but that's a tough area. China is soft with the exception of networking for us. Our enterprising group had a good quarter in China including networking but China is soft. The United States seems to be stabilized but not taking off on a growth trajectory.
WHITMAN ON CONFIDENCE
We think continuing to place units both in laser and in ink is going to be very much a part of 2014 and by the way our graphics business where we are captalizing on that trend from analog to digital in graphics. Indigo had a great quarter. So we're confident in our printing business going into 2014.
WHITMAN ON RIGHT SEGMENT RIGHT PRICE
Well we think probably the better opportunity in 2014 is in the commercial PC business. We had a good quarter in our commercial business. People in companies still need to do work with workstations, desktops, laptops or hybrids. and we also see an opportunity in tablets in the commercial area as well.
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