Hewlett-Packard Proves Bull Case For Tech
By some measures, Hewlett-Packard (NYSE:HPQ) is the largest technology company in the world, with annual sales well over $100 billion. The breadth of its business, which include software, PCs, printers, servers and consulting, make it a nearly perfect measure for the…
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HP net incomes rose 20% for its fiscal first quarter to $3 billion. EPS was $0.96, up from $0.75 in the prior-year period. Revenue rose 8% to $31.2 billion. The company reported double-digit growth in its server, printer, and PC units.
For the second quarter of fiscal 2010, HP expects revenue of about $29.4 billion to $29.7 billion, GAAP diluted EPS in the range of $0.89 to $0.91. HP estimates full year fiscal 2010 revenue will be about $121.5 billion to $122.5 billion, up from its previous estimate of $118.0 billion to $119.0 billion. HP expects full year fiscal 2010 GAAP diluted EPS to be in the range of $3.79 to $3.86, up from its previous estimate of $3.65 to $3.75.
The only soft spot in the earnings report was from HP’s largest division–services. HP customers must need hardware and software more than they do help in operating them.
Douglas A. McIntyre
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
