HP redeems pride with strong Q4
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Billion dollar printer profit steadies the ship
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(InfoWorld) - Heading toward the end of a better-than-expected year for IT, the good news this week was that there were no big surprises when Hewlett-Packard, Cisco Systems, and Advanced Micro Devices laid out strategies at investor and analyst conferences. While IT product prices, especially in hardware sectors like chips and some types of networking equipment, have been under pressure, tech vendor sales have been strong generally. The Nasdaq Composite Index, home to a broad range of publicly traded IT companies, crossed 2400 in November and has remained at that level, after opening the year at 2244. Tuesday's U.S. Federal Reserve decision to leave rates unchanged, and a much better-than-expected report on retail sales Wednesday stoked markets overall. On Thursday the Dow Jones Industrial Average hit a new intraday high of 12427.17, and the Nasdaq surged by 21.44 points to close at 2453.85. AMD gave assurancesÂ Thursday at an analyst meeting in New York that its $5.4 billion merger with graphics chip maker ATI will result in greater-than-expected cost savings in 2007, and $80 million to $160 million in incremental revenue. This caused AMD shares to jump by $2.54 to close at $22.71. The company also stressed that it expects a revenue boost from Microsoft's Vista OS release. The company in OctoberÂ announced fourth quarter resultsÂ that beat analyst estimates, but there were concerns about profit margins. The challenge for AMD is to keep a lid on costs and continue to successfully challenge Intel, especially with quad-core products in 2007. At HP's meeting in New York Tuesday, Chief Financial Officer Robert Wayman said thatÂ the company is forecastingÂ fiscal 2008 revenue between $101 billion and $103 billion. The high side of that is slightly higher than the consensus analyst forecast of $102 billion, according to Thomson First Call. It was reassuring but not exciting, at the tail end of a great year from HP (despite theÂ board spying scandalÂ that cost Chairman Patricia Dunn her job in September). The day of the analyst meeting, HP shares (HPQ) closed at $39.83, down by $0.18. But HP's announcement with MicrosoftÂ on WednesdayÂ helped spark investor interest. The deal calls for the companies to work on a range of business software products to the enterprise market, including business intelligence software. HP closed Thursday at $39.91, up $0.19 for the day. At Cisco's C-Scape conference for analysts this week in San Jose, California the company stressed themes that it had hit earlier this year. The company says it will sustain double-digit growth through the rest of the decade by incorporating data, voice, video and mobile capabilities -- its "quadruple play" -- across product lines. This week, the companyÂ focused on the consumer sideÂ of the equation, spotlighting itsÂ merger with set-top box maker Scientific-Atlanta, and also its Linksys consumer gear. Cisco plans to maintain its stronghold in the enterprise while continuing to grow in the consumer market. By the second day of the conference, Cisco shares (CSCO) were up $0.14 from its close Monday. In the current upbeat climate, reassurances from IT heavyweights about the next few quarters could be enough to boost IT investor confidence into the new year.
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The chipmaker just meets expectations, while turning in its highest ever fourth-quarter revenue. Stock hit hard in after-hours trading.
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Hewlett-Packard Co. reported Tuesday a 26.5 percent rise in fourth-quarter profit on the strength of record revenue growth across all of the computer manufacturing giant's businesses.
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Just five months after its &#36;19 billion acquisition of Compaq Computer Corp. gave Hewlett-Packard Co. the No. 1 ranking in worldwide personal computer shipments, a new batch of market numbers delivered some stomach-turning news to HP &amp;#151; rival Dell Inc. had just snatched the top spot right back.
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Strong and confident about disk Seagate posted a boost in fourth quarter income thanks to higher revenue and a one-time tax benefit.â¦
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(InfoWorld) - Hewlett-Packard topped Wall Street's revenue and earnings expectations in the first quarter of its 2007 fiscal year. HP posted net income of $1.5 billion, or $0.55 a share, in the quarter ended Jan. 31, 2007, compared to $1.2 billion, or $0.42 a share in the year ago quarter, the Palo Alto, California company said Tuesday. Excluding $279 million in adjustments on an after-tax basis, net income for HP (NYSE: HPQ) was $1.8 billion, or $0.65 a share, exceeding the consensus forecast for $0.62 per share from analysts polled by Thomson Financial. HP described the expenses as related primarily to the amortization of purchased intangibles and in-process research and development charges related to acquisitions. It also cited stock-based compensation expense in both current and prior years. Revenue came in at $25.1 billion, up 11 percent from last year's first quarter and above the $24.27 billion analyst forecast. Growth came from HP's personal systems group, which is desktop and laptop computers for consumers, with a 17 percent year-over-year revenue growth, and from imaging and printing, with 7 percent revenue growth. HP topped rival Dell as the leading seller of personal computers in 2006, according to IDC. At financially troubled Dell,Â former CEO and Chairman Michael Dell returned to the CEO office following the ouster of Kevin Rollins last month. "HP delivered a strong first quarter with improved margins and solid revenue growth across our businesses," said Mark Hurd, HP chairman and chief executive, in a statement.
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Dell ended the year on a positive note, beating HP to top the market.
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Hewlett-Packard Co.HPQ.N on  Wednesday posted a quarterly profit that rose slightly, helped  by gains across all of its businesses.
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Hewlett-Packard Co. on Tuesday said quarterly profit topped its own lowered expectations as the computer and printer maker saw record revenues in every business
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Hewlett-Packard Co. delivered a fiscal first-quarter profit above analyst expectations and brightened its outlook for the rest of the year, providing a ray of high-tech hope amid the gathering economic gloom.
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Gilead announces its fourth-quarter financial results.
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Hewlett-Packard Co. today reported net income for its fiscal fourth quarter of $1.09 billion, compared with $862 million during the same quarter a year earlier.
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Hewlett-Packard Co , the  world's largest personal-computer maker, on Tuesday reported a  higher quarterly profit as it sold more PCs and server  computers.
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Hewlett-Packard's decision to combine its PC and printing businesses makes sense.
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By Chadwick, Philip  HP has posted improved results for the second quarter of the year with a boost in revenues for its imaging and printing division. Over the period, revenue grew by 6% to Pounds 3.6bn ($7.2bn) while revenue for commercial printer units improved by 21%.
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Hewlett-Packard Co. , the  world's No. 2 personal computer maker, reported on Wednesday a  forecast-beating profit on sales growth across its main  divisions and unveiled a record $6 billion share buyback.