Hewlett-Packard Sees Surprise Sales Spike as PCs Make Recovery

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Hewlett-Packard Sees Surprise Sales Spike as PCs Make Recovery

Hewlett-Packard Sees Surprise Sales Spike as PCs Make Recovery
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Hewlett-Packard Sees Surprise Sales Spike as PCs Make Recovery

by TheStreet 0:52 mins

Shares of Hewlett-Packard jumped on Wednesday making it TheStreet's Move of the Day. The hardware company posted a surprise increase in revenue in its third quarter after PCs sales increased 12%. The quarter restored faith in CEO Meg Whitman’s five-year plan to reshape the industry giant to weather fast technological change. Whitman also indicated that acquisitions could be made given the company’s operating net cash position of $4.9 billion. Overall revenue of $27.58 billion was up over 1% year-on-year and beat expectations of a slight decline. Adjusted earnings of 89 cents a share were as expected.

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