Among the various top technology companies facing serious job cuts and decrease in profits, finally there is some sort of relief in announcement of HP's Q4 revenue and earnings. In this economic slowdown and financial crisis, it is a good feel and sight to hear about atleast some good news in this sector.
The analysts’ expectations were about $33.1 million and HP managed to forecast a revenue of $33.6 million. With this announcement, the share prices have increased about 12 %.
HP’s purchase of EDS (Electronic Data Systems) for $13.9 billion has boosted the quarter’s revenue which has increased to about 19 percent over last year’s Q4. HP’s recent job cuts may also have influenced the revenue and earnings though it suggested that the company is going through rough waters and was desperate to minimize losses.
The CEO Mark Hurd was pleased with the company’s performance.
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