HP, Still Missing a CEO, Points to Solid 2011

Hewlett-Packard Co , reassuring investors worried about growth after the surprise departure of ex-CEO Mark Hurd, forecast 2011 results that surpassed Wall Street expectations and propped up its shares.

The world's largest tech company underscored its potential in still-evolving markets for mobile devices such as tablets, storage and networking. But competition in those areas is fierce and getting fiercer.

HP, which has become known for its cost-cutting, also made an effort to stress its investments, including adding several thousand employees to its sales corps.

HP forecast 12 to 14 percent growth in non-GAAP earnings in fiscal 2011 and revenue growth of 5 to 7 percent, helping its shares gain more than 1 percent in after-hours trade.

Read Full Article from ABC News

- Posted: 2010-09-28 21:18:12

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