Hewlett Packard Co on Thursday forecast revenue that is up from 2009 but slightly below what analysts expected, despite hopes that corporate spending on hardware would bounce back.

Chief Executive Mark Hurd forecast earnings, excluding items, of $4.20-$4.30 per share on revenue of $117 billion to $118 billion in fiscal 2010.

HP posted revenue of about $113 billion in fiscal 2009, according to Thomson Reuters data. Analysts had been expecting revenue of just above $118 billion, according to Reuters Estimates.

Technology companies are hoping for a corporate hardware refresh cycle to begin next year, as large companies move to replace aging machines with the latest equipment.

(Reporting by Gabriel Madway; Editing by Steve Orlofsky)

Mark Hurd HP