Hewlett Packard Reports Solid Quarter And The Forecast Is Strong
Hewlett Packard (HPQ) reported another solid quarter today after the close. Revenues were up 15% and Net Income up 27%. EPS came in at 86 cents, above analyst estimates for 82 cents (HPQ FY 4Q Earnings Release).
The forecast for the first quarter of FY 08 is for 80 cents a share – above analyst estimates for 77 cents.
The conference call has just entered the questions phase so something could come up, but it looks like an excellent quarter and forecast.
Just what tech investors wanted (needed!) to hear. This should get tech shares, and maybe the whole market, moving in the right direction at the open tomorrow.
UPDATE (Mon 11/19, 2:40pm PST): Analysts just asked CEO Mark Hurd about the growth rate in the US for the quarter, financial company business and US enterprise spending.
Hurd said that US growth of 7% is above their long term goal of 4-6%, they saw “no material weakness” in financial sector spending and that US enterprise spending was actually pretty strong, and you can see that if you look at the numbers on a sequential basis.
This is exactly what tech investors want to hear!