Tuesday, 18 November 2008

HP expects to beat ’09 consensus forecasts

(By Anthony Miller) HP saw its stock surge 14% today (Tuesday), pre-announcing FY08 results (to 31st Oct.) and FY09 earnings guidance both above consensus forecasts. The early release of key numbers aimed to assuage market uncertainty ahead of the company’s scheduled report on Monday. Well, it certainly did that! There’s little in the announcement to give any real idea on the combined HP/EDS services business, but backing out the numbers, it seems that EDS contributed a little under $4bn to HP’s 4Q08 revenues in the two months since the acquisition closed. More after the results next week.

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