HP profit plunge dashes hopes of tech recovery

Discussion in 'Stocks' started by ByLoSellHi, Aug 18, 2009.

  1. What about these headlines?


    H-P Busts Out a Sales and Profit Beat


    "PALO ALTO, Calif. (TheStreet) -- Hewlett-Packard(HPQ Quote) beat Wall Street's estimates in its third-quarter results, giving the tech sector a boost as it struggles to emerge from the recession.

    The results...will be welcomed by investors desperate for good news after a turbulent spell marked by weak IT spending and job cuts.


    H-P Beats Estimates; Services Revenue up 93%



    Hewlett-Packard: Scattered Patches of Brightness



    Green shoots, green shoots!!!!

  2. HPQ didn't have a bad quarter. Certainly not bad enough to "dash hopes of tech recovery". Beat estimates on profit and sales forecasts. Sales would have risen 4% if it were not for currency fluctuations (and this is after slashing prices). And the best news out of this is their forecast of growing revenue by 8% QOQ and reaffirming 2009 guidance.

    Most people were expecting worse numbers to come out of HPQ than was actually reported. That being said, it wasn't a stellar quarter by any means, but nowhere near terrible.