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Hewlett-Packard Shows Sign of Resuscitation By Michael Liedtke February 22, 2013 10:29AM     There are signs of progress for HP in its latest quarter, indicating that turnaround efforts are running ahead of schedule. Its fiscal first-quarter numbers topped what the slumping personal computer maker's own management and stock market analysts had forecast. CEO Meg Whitman says the company is in the best condition since she was hired.   Related Topics Hewlett-Packard HP Dell Meg Whitman PCs Tablets Hardware Latest News iPhone Takes a Hit in Satisfaction Dell Kills Its In-House Public Cloud After 360, There Comes the Xbox One A Terabyte's the Limit Now at Flickr Customers Less Satisfied with Win 8 Hewlett-Packard Co.'s latest quarterly results have provided a glimmer of hope after months of gloomy news. The fiscal first-quarter numbers announced Thursday topped what the slumping personal computer maker's own management and stock market analysts had forecast . Like other PC makers, HP has been struggling to adapt to a shift toward smartphones and tablet computers, which are siphoning sales from desktop and laptop machines made by HP and other companies. Adding to the problems were some acquisitions gone awry. Over the past two quarters, HP announced losses totaling $15.3 billion as the company accounted for those mishaps, to the shock of Wall Street. The jolt caused HP's stock to plunge to its lowest price in a decade just three months ago. The shares have rebounded since then, though they still remain about 20 percent below where they were in Sept. 2011, when the company fired Leo Apotheker as its CEO and hired Meg Whitman, who became a high-tech star while running eBay Inc.'s online marketplace. The same problems are still plaguing HP, but signs of progress in the latest quarter indicated that the company's turnaround efforts are running ahead of schedule. Whitman has consistently said it may be several years before HP is on solid ground again. She said the company is in the best condition since she was hired as CEO. "The patient showed some improvement," Whitman told The Associated Press in a Thursday interview. She stopped short of predicting HP will be fully cured more quickly than she anticipated. "I don't want to get out over my skis." Whitman said. In a show of confidence, HP provided an earnings forecast for the Feb.-April quarter that was higher than analysts' projections. The company's stock rose 94 cents, or 5.5 percent, to $18.04 in after-hours trading. At its recent low, the stock was down to $11.35. HP earned $1.2 billion, or 63 cents per share, in the three months ending Jan. 31. That was a 16 percent decrease from nearly $1.5 billion, or 73 cents per share, at the same time a year earlier. Excluding certain accounting items, HP would have earned 82 cents per share. That was well above the average estimate of 71 cents per share among analysts surveyed by FactSet. (continued...) 1  |  2  |  3  |  Next Page >   © 2013 Associated Press under contract with YellowBrix. All rights reserved.   Tell Us What You Think Comment: Name: Also Visit: iPad Info Center Billions of Bytes Mobile Device Now Apple Info Center TopTechWire.com Redefine the way you do business by analyzing market trends, increasing conversion, and creating customer loyalty through Microsoft Dynamics. Unlock your potential through real-time CRM solutions in sales, marketing, and customer service to help your business become more dynamic than ever before.  Microsoft/Windows 1.   After 360, There Comes the Xbox One 2.   Customers Less Satisfied with Win 8 3.   Is Next-Generation Xbox on the Way? 4.   Ready for Xbox: The Next Generation 5.   Windows 8.1: No Cost, Big Pressure Windows 8.1: No Cost, Big Pressure Can update stem dislike, confusion? Average Rating: Should Enterprises Skip Windows 8? Interface makes IT cringe, analyst says. Average Rating: IDC: Windows Phone Now in 3rd Place BlackBerry OS quarterly share declines. Average Rating:

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Enterprise Hardware Spotlight

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Mobile Enterprise Spotlight

Consumer Satisfaction for iPhone Drops as Rivals Gain Apple's iPhone has taken a favorability hit in the latest American Consumer Satisfaction Index, an annual survey of 70,000 consumers, while Samsung and Motorola put in strong gains.   Qualcomm CEO Eyes Smartphone Growth With more than 6 billion mobile phones on the planet and population growth jumping in many corners of the world, Qualcomm CEO Paul Jacobs is sharing his thoughts on the future of the devices we love.   Teen Shows Battery-Charge Breakthrough at Intel Fair Imagine being able to recharge your phone's battery in just seconds. If an invention recognized in Intel's International Science and Engineering Fair reaches the mass market, it could soon be possible.

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