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No Slowdown at HP
Posted Feb 19, 2008 04:13pm EST by Aaron Task in Investing, Computers, Information Technology
Hewlett-Packard reported earnings of 86 cents per share and revenue of $28.5 billion up 13% from a year ago and handily beating the consensus estimates of 81 cents and $27.6 billion, respectively.
More importantly, “we are raising our guidance yet again, reflecting our confidence in anticipated cost reductions and share gains in key markets,” HP chairman and CEO Mark Hurd said in a prepared statement.
HP is looking for fiscal 2Q earnings of 83-84 cents vs. the consensus of 82 cents; for the full fiscal year, HP is forecating revenue of $113.5B to $114B and earnings of $3.50-$3.54 -- both are above current consensus and the stock is up nearly 6% in the initial after-hours reaction.
I'm not the wild HP bull Henry portrayed me to be in our video earlier today (I wish I were) and the HP conference call is yet to come, but these results should provide some solace to investors fretting over the disappointing action of late -- today's failed rally attempt most definitely included.
10 Comments
shulafins - Wednesday February 20, 2008 09:09AM EST
So, any news about the HP/Cryptometric deal with Tiawan to provide biometric screening software for security/identification. Crypto has announced it on their website but I can't find anything on HP's site.
Ron - Wednesday February 20, 2008 09:52AM EST
But on the backs of how many lay-offs was this achieved?
anovotnym - Wednesday February 20, 2008 10:02AM EST
What's your point? Shall we run all public companies as not-for-profit to keep unproductive workers on board? That profit is spent elsewhere where those same people might have found jobs.
Clinton J - Wednesday February 20, 2008 01:05PM EST
Ron...no layoffs...employee base has actually expanded...and yes I work for HP. I'm a low level employee, so I'm not trying to shill for HP. Let me tell you though that Mark Hurd (CEO) is an amazing manager unlike anything I've ever seen. The guy really knows how to streamline and that streamline is not focused on headcount...but the massive inefficiencies in any big company. Headcount reduction in his opinion is the easy way out for management and doesn't solve the systemic problems in the processes in a company. He literally is driving MASSIVE and wide system and processes changes to make them hugely more efficient. This work/change is the fruit of a couple years of work and is continuing into the unforseen future. HP will perform even better and better in the future because its business model and processes will be best in class. Don't believe me...but this guy is really good. He has done this at other smaller companies with great success and now is transforming this IT giant in the same manner.
Clinton J - Wednesday February 20, 2008 01:05PM EST
Ron...no layoffs...employee base has actually expanded...and yes I work for HP. I'm a low level employee, so I'm not trying to shill for HP. Let me tell you though that Mark Hurd (CEO) is an amazing manager unlike anything I've ever seen. The guy really knows how to streamline and that streamline is not focused on headcount...but the massive inefficiencies in any big company. Headcount reduction in his opinion is the easy way out for management and doesn't solve the systemic problems in the processes in a company. He literally is driving MASSIVE and wide system and processes changes to make them hugely more efficient. This work/change is the fruit of a couple years of work and is continuing into the unforseen future. HP will perform even better and better in the future because its business model and processes will be best in class. Don't believe me...but this guy is really good. He has done this at other smaller companies with great success and now is transforming this IT giant in the same manner.
Clinton J - Wednesday February 20, 2008 01:06PM EST
Ron...no layoffs...employee base has actually expanded...and yes I work for HP. I'm a low level employee, so I'm not trying to shill for HP. Let me tell you though that Mark Hurd (CEO) is an amazing manager unlike anything I've ever seen. The guy really knows how to streamline and that streamline is not focused on headcount...but the massive inefficiencies in any big company. Headcount reduction in his opinion is the easy way out for management and doesn't solve the systemic problems in the processes in a company. He literally is driving MASSIVE and wide system and processes changes to make them hugely more efficient. This work/change is the fruit of a couple years of work and is continuing into the unforseen future. HP will perform even better and better in the future because its business model and processes will be best in class. Don't believe me...but this guy is really good. He has done this at other smaller companies with great success and now is transforming this IT giant in the same manner.
Clinton J - Wednesday February 20, 2008 01:06PM EST
Ron...no layoffs...employee base has actually expanded...and yes I work for HP. I'm a low level employee, so I'm not trying to shill for HP. Let me tell you though that Mark Hurd (CEO) is an amazing manager unlike anything I've ever seen. The guy really knows how to streamline and that streamline is not focused on headcount...but the massive inefficiencies in any big company. Headcount reduction in his opinion is the easy way out for management and doesn't solve the systemic problems in the processes in a company. He literally is driving MASSIVE and wide system and processes changes to make them hugely more efficient. This work/change is the fruit of a couple years of work and is continuing into the unforseen future. HP will perform even better and better in the future because its business model and processes will be best in class. Don't believe me...but this guy is really good. He has done this at other smaller companies with great success and now is transforming this IT giant in the same manner.
Larry R - Wednesday February 20, 2008 02:10PM EST
I am another HP employee, and I echo Clinton's comments. I have been with HP over 20 years and seen a lot of change, some bad, some good but Mark is doing a great job at streamlining this company. You would not believe some of the inefficiencies that this company had and still managed to profit in the past. It can only get better!
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Yahoo! Finance User - Tuesday February 19, 2008 07:25PM EST
Great.