Tags: US | Earns | HP

HP's Net Jumps 6 Percent in Last Quarter Under Hurd

Thursday, 19 Aug 2010 05:05 PM

Hewlett-Packard's net income jumped 6 percent and revenue notched 11 percent higher in HP's last full quarter under now-ousted CEO Mark Hurd.

The numbers reported Thursday squared with preliminary results Hewlett-Packard Co.'s revealed Aug. 6 in announcing Hurd's abrupt resignation.

In his five years at HP, Hurd aggressively cut jobs and other costs and orchestrated a broad push beyond personal computers and printers.

Net income was $1.77 billion, or 75 cents per share, compared with $1.67 billion, or 69 cents per share, a year ago.

Excluding items, HP would have earned $1.08 per share. That was in line with analysts' forecasts.

Revenue was $30.7 billion, up from $27.6 billion a year ago. Analysts expected $30.4 billion.

Shares fell 21 cents, or 0.5 percent, to $40.55 in extended trading after the release of results. Earlier, shares fell 60 cents, or 1.5 percent, to close at $40.76.

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Hewlett-Packard's net income jumped 6 percent and revenue notched 11 percent higher in HP's last full quarter under now-ousted CEO Mark Hurd.The numbers reported Thursday squared with preliminary results Hewlett-Packard Co.'s revealed Aug. 6 in announcing Hurd's abrupt...
US,Earns,HP
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2010-05-19
Thursday, 19 Aug 2010 05:05 PM
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