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Fat cat HP cashes in on PCs, servers and printers in Q1

Go ahead, Mark Hurd. Rip off those studious glasses and unbutton that blue Oxford shirt. We know there's a Superman costume lurking under the Clark Kent facade.

Mark "the Cutter" Hurd's HP may well have injected a fresh helping of optimism into the US financial markets. HP today reported a 13 per cent first quarter rise in revenue to $28.5bn. Beyond that, HP pleased very cautious investors by upping its full-year revenue forecast. HP now expects 2008 revenue to come in between $113.4bn and $114bn, which exceeds a previous forecast of $111.5bn. Investors were happy enough with the Q1 results and rosy predictions to boost HP shares by more than five per cent in after-hours trading to $46.19 per share, at the time of this report.

The Register

Posted by | Wed, Feb 20, 2008 - 02:43 AM