Hewlett Packard Hikes 2Q Outlook
Computer and printer maker Hewlett Packard Co. lifted its second-quarter forecast
on Tuesday, citing strong results in its personal computer and server businesses.
HP said it decided to update its guidance after an internal e-mail with financial
details of the quarter was accidentally sent to someone outside the company.
The company now expects second-quarter net income of 64 cents to 65 cents per
share -- or 69 cents to 70 cents excluding amortization costs. HP projects sales
for the second quarter will range from $25.5 billion to $25.55 billion.
The company projected in February second-quarter earnings of 57 cents to 58
cents on roughly $24.5 billion in revenue. Excluding one-time costs, the company
had forecast profit of between 63 cents and 64 cents per share for the quarter.
Analysts expected earnings, on average, of 65 cents per share on $24.58 billion
in revenue, according to a Thomson Financial survey.
Shares of HP rose $1.20, or 2.7 percent, to $45 in premarket trading, after
they closed at $43.80 on Monday.