HP's Whitman sees revenues back on growth trajectory in FY14

February 27, 2013

Speaking at the Morgan Stanley Technology, Media & Telecom Conference yesterday afternoon, Meg Whitman, CEO of Hewlett-Packard (HPQ) said, "After 18 months at Hewlett-Packard, I feel like I know what most of the challenges are that this company faces. Whitman also reiterated that the company is still in the midst of a five-year turn-around, but added that with a big cost take-out occurring in 2013, investors will see revenues getting back on a growth trajectory in FY14. As far as the time-table of the HP restructuring. Whitman said, "HP is about halfway through a three-year restructuring and that there are about 15,000 more job cuts to go." When asked about the struggling services unit Whitman said she is confident in seeing growth in 2014. Whitman also clarified a question about a company regulatory filing that said HP would consider disposing of assets and businesses. "This was really more about portfolio rationalization within the portfolio and so not any of our big operating divisions, " said Whitman. In late afternoon trading, Hewlett-Packard shares are trading down fractionally at $19.78