Paul -- on your math regarding currency translation at HP. they didn't give the exact year-year numbers, but you're in the right ballpark. i doubt it helped EARNINGS too much though 'cause HP (and any other multi-national) has a lot of COSTS in euro, yen, etc which off-set the revenue advantages.
on a currency-neutral basis, most of these earnings reports that everybody is getting so lathered up about are not that interesting at all -- volume growth SUCKS and companies are making numbers on the back of a falling dollar.
also, adjust tech companies' revenue from the EU for currency gains, and you are seeing MASSIVE sequential and year-year fall-offs in business in Europe. this of course is revealing what a sad state the European economies are currently in, and its only getting worse with their currency so strong.
that said, none of this matters. SNPS quarter tonite sucked if you exclude currency, acquisitions, and pro-forma adjustments, but that's not stopping them from bidding the stock up nearly 10% after-market, 'cause they "beat expectations". Big C and all, you know.
Cheers |
