24/7 Wall St.

Hewlett-Packard Company (NYSE: HPQ) just released slightly better-than-expected guidance.  The company just noted:

• H-P released information about the company’s revenue and earnings per share outlook for its 2011 fiscal year.  For the full fiscal year, HP expects revenue of approximately $131.5 billion to $133.5 billion, GAAP diluted earnings per share in the range of $4.35 to $4.45, and non-GAAP diluted earnings per share in the range of $5.05 to $5.15. This non-GAAP diluted earnings per share estimate excludes after-tax costs of approximately $0.70 per share, related primarily to the amortization of purchased intangible assets, restructuring charges and acquisition-related charges.

As far as how this compares to 2010 estimates, the company last month gave guidance of $4.49 to $4.51 EPS on revenues of $125.3 billion to $125.5 billion.  Thomson Reuters has 2011 estimates of $4.99 EPS and $131.42 billion in revenues.

As a reminder, H-P is still without a CEO.  The recent distractions have been great, but it also still has much of an addressable market that can add right to the top-line and ultimately to the bottom-line in total tech spending dollars.

Shares are getting back to the post-Herd levels of where the stock initially went after the Mark Hurd fiasco was announced.  Shares closed up 0.87% at $41.62 on the day and the 52-week range is $37.32 to $54.75.  After the Hurd-outing, shares fell from roughly $46 to under $42 and ultimately to under $38 before the most recent recovery.   In the after-hours session, HP shares are up 1.3% at $42.20.

JON C. OGG