HP sees stronger-than-expected 2009, shares up Reuters

HP shares surged deeper than 14 percent as preliminary Oct quarter results suggested the world's largest-maker of personal computers was winning bazaar ability and benefiting from recurring revenue streams from services and printing supplies. HP is gaining marketplace plam in an hugely brawny competitive position.

They've got help gains, combined with exact aggressive bill reduction," said Shannon Cross of Cross Research. It's especial prudent control of their process and that's allowed them to assign elsewhere numbers that are ahead of the Street yet in this economic environment," she said. HP's preliminary snare income in the fiscal fourth quarter that ended October 31, was 84 cents per share, or $1.03 excluding items such as restructuring and acquisition charges.

Analysts were looking for emoluments per participation of $1.00, excluding items, according to Reuters Estimates. Fourth-quarter revenue rose 19 percent to $33.6 billion, or an exaggeration of 16 percent when adjusted for currency effects, compared with the criterion analyst estimate of $33.1 billion.

The gathering forecast fiscal 2009 earnings excluding items of $3.88 to $4.03 per share, which beat the guideline Wall Street estimate of $3.86, according to Reuters Estimates. HP, which is scheduled to advertise unabridged results closest Monday, did not fact which parts of its hardware, software or services units were strong, saying by oneself that it was benefiting from its global reach, contradictory customer example and fee cuts.

It said in Sep it would situate off 24,600 employees adjacent its acquisition of Electronic Counsel Systems. HP further said on Monday it would extend its deliberate one-week holiday shutdown by an fresh week to save costs. Analysts extremely warned investors against further yet optimism, saying HP was doable to outperform other tech companies.

The threat of a consumer pullback is corporeal and present. It's unlikely that companies vast and little can sidestep the structural weakness on the consumer side," said Ashok Kumar, analyst at Collins Stewart.

On the other hand those with a broader portfolio -- cognate Hewlett-Packard and IBM -- testament be able to weather the calamity more fitting than the likes of Dell." Continued.. Related Broadcast Immediate VIEW: HP preliminary profit beats Wall St. Dash insurers fall on fear over investment losses Exceeding Concern & Investing News.. Featured Broker sponsored link Editor's Election Pictures Video Articles Slideshow A choice of our first-class photos from the former 24 hours.