Consumer Electronics
H-P Holds Its Own (HPQ, COMS, DELL)
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Hewlett-Packard Co. (NYSE: HPQ) had already given its guidance for today’s earnings two weeks ago when it announced the surprise acquisition of 3Com Corp. (NASDAQ: COMS). But that doesn’t keep traders from looking through the numbers. H-P posted $1.14 EPS on $30.78 billion in revenues. Thomson Reuters had estimates of $1.13 EPS and $30.36 billion in revenues.
The company said it still backs $1.03 to $1.05 non-GAAP EPS and $29.6 billion to $29.9 billion in revenues for the current quarter that it will report in 3 months. Estimates for next quarter are $1.04 EPS and $29.7 billion in revenues. H-P is also backing $4.25 to $4.35 in 2010 non-GAAP EPS.
The company generated $3.4 billion in cash flow from operations and exited with $13.4 billion in gross cash.
Shares closed up almost 2% at $51.02 today and the 52-week trading range is $25.39 to $51.43. Shares are down at $50.77 in the after-hours session. When you compare the company’s take to that of Dell Inc. (NASDAQ: DELL), it is easy to see who is executing better today.
JON C. OGG
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