HP posts higher earnings, ups forecast
Hewlett-Packard Co. estimated it will post an 11 percent increase in revenue in the third quarter of its fiscal 2010 compared to the prior year, and it raised guidance for the rest of the year.
Revenue in the third quarter was about $30.7 billion, with preliminary earnings per share of approximately $0.75, the company said.
For its fourth quarter, HP estimates revenue of approximately $32.5 billion to $32.7 billion, and earnings per share of $1.03 to $1.05.
For the full year, HP now expects revenue of $125.3 billion to $125.5 billion, and earnings per share in the range of $3.62 to $3.64.
The announcement came at the same time Palo Alto-based HP announced that CEO Mark Hurd was resigning because of unspecified violations of business conduct standards uncovered by an investigation prompted by sexual harassment allegations by a former contractor. No sexual harassment was found, the company said.