HP: Recession? Whatchoo Talkin' About Willis?
All the volatility in the credit and stock markets have consumers, investors, and corporate heads nervous, but Hewlett-Packard is no indicator of any downturn. HP raised their forecast for the year after reporting excellent results for the first quarter.
“In the U.S., at the end of the quarter, we saw a little more caution in the consumer segment than we’ve seen in the past,” Mr. Hurd said.
Nevertheless, Mr. Hurd raised his forecast for the full year. The company estimated that second-quarter revenue would be as much as $27.9 billion, and full-year revenue would be about $114 billion — increases of about 9 percent in each case over the year-earlier period. Previously, H.P. projected sales for the 2008 fiscal year would be $111.5 billion.
H.P., the world’s largest technology company, is considered a bellwether for the tech sector, if not the economy as a whole, because its revenues are evenly balanced between consumers, small business and large enterprises, with its overseas business accounting for 70 percent of its revenue.
It's possible to make a quick killing, or be wiped out entirely if you invest in sketchy tech startups. Hewlett-Packard makes actual things, and sells them to actual consumers. And they make money at it. What a concept.
“In the U.S., at the end of the quarter, we saw a little more caution in the consumer segment than we’ve seen in the past,” Mr. Hurd said.
Nevertheless, Mr. Hurd raised his forecast for the full year. The company estimated that second-quarter revenue would be as much as $27.9 billion, and full-year revenue would be about $114 billion — increases of about 9 percent in each case over the year-earlier period. Previously, H.P. projected sales for the 2008 fiscal year would be $111.5 billion.
H.P., the world’s largest technology company, is considered a bellwether for the tech sector, if not the economy as a whole, because its revenues are evenly balanced between consumers, small business and large enterprises, with its overseas business accounting for 70 percent of its revenue.
It's possible to make a quick killing, or be wiped out entirely if you invest in sketchy tech startups. Hewlett-Packard makes actual things, and sells them to actual consumers. And they make money at it. What a concept.
