Hewlett-Packard Co on Wednesday announced preliminary results for the fourth quarter 2009 and besides its acquisition of 3Com Corp for $2.7 billion. The company also raised its outlook for fiscal 2010.
The company reported preliminary GAAP diluted earnings of $0.99 per share, up from $0.84 a share in the prior-year period.
Preliminary non-GAAP EPS were $1.14, up 11 cents from $1.03 per share a year ago. The EPS was above the average analyst estimate of $1.12 a share, according to Thomson Reuters.
HP reported its revenue of $30.8 billion, down 8% from a year ago while up 12% sequentially.
Solid execution drove exceptional performance for HP this quarter, fueled by significant growth in China, said Mark Hurd, chairman and chief executive officer, HP. We are delivering on our strategy and are well positioned going into 2010.
HP estimates 2010 non-GAAP diluted EPS of $4.25 to $4.35, up from its previous estimate of $4.20 to $4.30. The revenue is expected to be $118-billion to $119- billion, up from previous estimate of $117 billion to $118 billion.
For the first fiscal quarter of 2010, the company estimates revenue of about $29.6 billion to $29.9 billion and non-GAAP diluted EPS in the range of $1.03 to $1.05.