HP pre­dicts higher sales and profit

Los Angeles Times - - Business -

Hewlett-Packard Co. fore­cast rev­enue and earn­ings for fis­cal 2011 above Wall Street’s ex­pec­ta­tions as it pre­pares to name a new chief ex­ec­u­tive to suc­ceed Mark Hurd.

HP pre­dicted that earn­ings, ex­clud­ing items, for fis­cal 2011 would rise 12% to 14% to $5.05 to $5.15 a share on rev­enue of $131.5 bil­lion to $133.5 bil­lion.

Wall Street is tar­get­ing earn­ings of $4.99 a share on rev­enue of $131.4 bil­lion for the next fis­cal year, ac­cord­ing to Thom­son Reuters.

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