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CNBC EXCLUSIVE: CNBC EXCERPTS: HEWLETT-PACKARD PRESIDENT & CEO MEG WHITMAN ON CNBC’S “SQUAWK ON THE STREET” TODAY

WHEN: TODAY, THURSDAY. MAY 24TH

WHERE: CNBC’S “SQUAWK ON THE STREET

Following are excerpts from the unofficial transcript of a CNBC EXCLUSIVE interview with Hewlett-Packard President & CEO Meg Whitman today on CNBC’s “Squawk on the Street.”

All references must be sourced to CNBC.

Video: Hewlett-Packard's CEO Whitman on Turnaround

WHITMAN ON PROGRESS:

WE'RE AT THE BEGINNING, PROBABLY 10-15% OF THE WAY THERE. WE'VE LAYED A LOT OF PIPE, GROUDWORK WE HAVE A CLEAR FOCUS STRATEGY FOR OUR COMPANT WE HAVE A CLEAR FOCUSED STRAT FOR EACH OF OUR OPERATING GROUPS AND NOW WE HAVE TO EXECUTE.

WHITMAN ON PRINTING SYNERGIES:

THE PRINTER BUSINESS IS GOING TO BENEFIT FROM THE PC GLBOAL FOOTPRINT IN EMERGING MARKETS. YOU'LL RECALL WE PUT THE PRINTER BUSINESS TOGETHER WITH THE PC BUSINESS AND THERE’S A LOT OF SYNGERGIES COMING OUT OF THAT.

WHITMAN ON GUIDANCE OF THE BOTTOM LINE:

WE'RE GOING TO MAKE A SMALL NUMBER OF VERY BIG BETS SO WE FUND IT ADEQUATELY SO PROBABLY AT THE END OF Q3 AND Q4 WE'LL GIVE MORE PRECISE GUIDANCE ABOUT HOW MUCH MONEY WILL GO TO THE BOTTOM LINE.

WHITMAN ON PUSHING HARD:

WE'RE PUSHING HARD BECAUSE WE CAN'T AFFORD TO WAIT WE'VE GOT TO MAKE THESE INVESTMENTS TECH IS CHANGING VERY RAPIDLY AT THE SAME TIME WE HAVE AN ENORMOUS ORGANIZATION AND SO YOU HAVE TO PACE AND SEQUENCE AND I FEEL GOOD ABOUT THAT PACE AND SEQUENCE RIGHT NOW BUT THAT DOESN'T YIELD TO ANALYSIS THAT IS AN ALMOST A GUT DECISION ABOUT HAVE YOU PUSHED HARD ENOUGH BUT NOT SO HARD THAT IT STARTS TO BE DISFUNCTIONAL

WHITMAN ON THE TABLET AND MOBILE:

WE ARE INTRODUCING A TABLET FOR BACK TO SCHOOL, A WINDOWS 8 TABLET...BUT...WE HAVE NOT DECIDED ON THE SMART PHONE STRATEGY. WE'VE DECIDED ON TABLET STRATEGY AND YOU'RE RIGHT WE HAVE WORK TO DO THERE AND IT’S ON THE AGENDA.

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