Skip to main content

HP Posts Solid Earnings

HP Posts Solid Earnings - Although it didn’t have a permanent chief executive for all of its fourth fiscal quarter ended Oct. 31, Hewlett-Packard still turned out solid results during the period and it raised its outlook for the coming year.

The company reported solid results despite the fact that the board fired chief executive Mark Hurd in August.

In a conference call, newly appointed HP CEO Leo Apotheker said the company would reinstitute salary increases in 2011. That’s in keeping with the talent war in tech, as evidenced by Google’s recent decision to give all employees a 10 percent raise. It’s a big deal since HP has more than 300,000 employees.

The Palo Alto, Calif.-based company reported net income of $2.5 billion, up 5 percent from $2.4 billion a year earlier. Earnings per share were $1.10, up from 99 cents a year earlier. Quarterly revenue was $33.3 billion, up 8 percent from a year earlier. The company said it saw broad-based growth in its commercial sales business, particularly in commercial PCs and printers.

“HP proved once again that it is able to execute given its market strengths and technology leadership,” said Apotheker, who replaced Hurd as CEO.

The solid performance shows that HP is a big battleship and the change in one single executive position, even if it is the CEO, won’t necessarily affect the company’s performance. HP’s stock price fell after Hurd’s firing — related to a scandal about Hurd’s relationship with a former HP marketing contractor — since Hurd had led HP’s recovery for five years.

The non-GAAP earnings were $1.33 a share, up 17 percent from $1.14 a share a year earlier. For the fiscal year, HP reported revenues of $126 billion, up 10 percent from a year earlier. Net earnings were $8.8 billion, up 14 percent from $7.7 billion a year earlier. Earnings per share for the year were $3.69, up 18 percent from $3.14 a year earlier.

HP Posts Solid Earnings
Labels:

Comments

Post a Comment

Popular posts from this blog

Best Indoor Exercise

Best Indoor Exercise - There are several indoor exercises you can do to keep in shape. But which are the best? They can be split in to two categories. The first is body weight exercises, meaning you use your own body weight to provide resistance. The second is using some sort of equipment. There are pros and cons to both. The biggest advantage to doing body weight exercises is they can be done anywhere. Whether you're on holiday, travelling for work, or if you just want a quick exercises to do. There are quite a few body weight exercises that can be done. If you wish to work out your abdominal muscles, sit ups or crunches are a good one. Doing pull ups on a door frame will work out your lats and back. Squatting with just your body weight will work out your thighs and calves. There are also indoor exercise machines by the hundreds. There's the traditional treadmill and exercise bikes which can be used indoors. Resistance bands and free-weights are also good ones for indoo...
Post a Comment
Read more

Kinect Review

Kinect Review - First presented to the world as Project Natal at E3 2009, Microsoft's Kinect sensor peripheral has since been positioned by the software (and hardware) giant as the next phase of Xbox 360's evolution as a platform. A combination of hardware and software, it's been billed as a means for users to interact with their consoles and play games without using a physical controller, using natural gestures, voice commands and face recognition. I've had a final retail Kinect unit at home for a little over a week now, and have had ample time to put the shiny new gadget through its paces. Is it as magical as expected? Will it transform gaming? Or, more importantly, does it even work? Read on past the break for my in-depth review of this ambitious apparatus. Kinect is a single piece of hardware, yet it incorporates several distinct technologies. There's an infrared emitter that floods your play space with invisible light, paired with a CMOS sensor that then l...
Post a Comment
Read more

'Green Hornet' Star Edward Furlong Jailed

'Green Hornet' Star Edward Furlong Jailed - Troubled former teen star Edward Furlong was thrown in jail Tuesday for allegedly violating a restraining order against his estranged wife, just hours after attending the Hollywood premiere of his new film, “The Green Hornet.” Furlong was arrested during a progress hearing Tuesday morning over the 100-yard, three-year restraining order taken out by Rachael Kneeland, People reported. The “Terminator 2” star was found to have violated the order last month by coming within 50 yards of Kneeland and was booked on $75,000 bail, the Los Angeles City Attorney's Office told news outlets. 'Green Hornet' Star Edward Furlong Jailed The arrest is the latest sad chapter for Furlong since Kneeland filed for divorce in July 2009 after three years of marriage. The pair have a 4-year-old son, Ethan. Soon after their split, Kneeland accused Furlong in court papers of rampant cocaine and other drug use and of making threats against...
Post a Comment
Read more