Inspite of financial crisis HP has good results

By: trademagazin Date: 2008. 11. 20. 00:00

Hewlett-Packard Co posted stronger-than-expected results and forecast full-year profit above Wall Street estimates, underscoring its resilience to an economic crisis that has dragged down other tech companies.

HP shares
surged more than 14 percent as preliminary October quarter results
suggested the world's largest-maker of personal computers was winning
market share and benefiting from recurring revenue streams from
services and printing supplies.

HP's
preliminary net profit in the fiscal fourth quarter that ended
October 31, was 84 cents per share, or $1.03 excluding items such as
restructuring and acquisition charges.

Analysts
were looking for earnings per share of $1.00, excluding items,
according to Reuters Estimates.

Fourth-quarter revenue rose 19 percent
to $33.6 billion, or an increase of 16 percent when adjusted for
currency effects, compared with the average analyst estimate of $33.1
billion.