HP offers 2010 outlook in line with estimates

Sep 24, 2009

(AP) -- Hewlett-Packard Co. said Thursday that its revenue and profit in its next fiscal year should be in line with what analysts were expecting.

The technology company's , Cathie Lesjak, told financial analysts that revenue should be between $117 billion and $118 billion in fiscal 2010, which starts Nov. 1.

HP's profit, excluding one-time items, is expected to be $4.20 to $4.30 per share.

Analysts polled by Thomson Reuters had been forecasting sales of $118 billion and profit of $4.25 per share.

Lesjak said HP's personal-computer business is expected to grow 3 percent to 5 percent over 2009, while its cash-cow printer-ink business could be flat to up just 2 percent.

HP's stock fell 6 cents to close at $46.87 before the outlook figures were announced. In extended trading the stock fell 42 cents, 0.9 percent, to $46.45.

©2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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