RatcliffeBlog - Mitch Thinking Out Loud

H-P: Crawling toward the middle

H-P: Crawling toward the middle

H-P reported earnings today and the news wasn't good. A third of Hewlett-Packard's profit for the quarter were due to savings compared to the previous quarter. That is, fewer people, less capital spending and lower sales volumes. Revenues were up only because of the Compaq acquisition. Sales in the enterprise market were down and H-P lost ground in printers. Not a pretty picture.

Always a confidence booster to see this: Affirms Q2 Consensus Estimates of $0.27 Non-GAAP EPS

In other words, the company thinks it can cut enough to make numbers before it finds ways to mask missing the goal.