HP Sees 2009 Revenue Up 5-6 PercentBy Baselinemag Print
Hewlett-Packard, the world's largest personal computer maker, said it expects revenue and operating profit margins to improve in 2009.NEW YORK Hewlett-Packard Co., the world's largest personal computer maker, said on Tuesday it expects revenue and operating profit margins to improve in 2009.
The company, which is hosting a meeting with analysts, said it sees fiscal year 2009 revenue growth of 5 percent to 6 percent to about $117.1 billion to $118.2 billion.
Operating margin will rise to 10.0 percent to 10.4 percent, HP said. HP reported an operating profit margin, excluding certain costs, of 9.2 percent in its fiscal 2007, ended October 31.
HP, based in Palo Alto, California, forecast a 2009 profit of $3.74 to $3.84 a share,
Last month, HP reported better-than-expected quarterly results as it sold more laptop computers in retail stores outside the United States, helping extend its market-share lead over Dell Inc., the No. 2 PC maker.
HP said last month it expected 2008 fiscal first-quarter revenue of $27.4 billion to $27.5 billion and earnings before certain costs of 80 cents per share. For all of fiscal 2008, HP in November forecast revenue of $111.5 billion and earnings per share before items of $3.32 to $3.37.
The company has eliminated about 15,000 jobs since 2005 and consolidated data centers even as it spends billions of dollars to acquire software companies, its fastest-growing business.
(Reporting by Franklin Paul and Philipp Gollner; Editing by Steve Orlofsky)
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