HP-Cost cutting more than revenue growth contributed to HP's earnings.
Paul:
Here is a little information on HP,and they say DELL is not growing market share and not growing fast enough,go figure,man when will they learn!!!!
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HP earnings surprise Wall St.
By Jim Davis
Staff Writer, CNET News.com
February 16, 1999, 4:10 p.m. PT
update Hewlett-Packard posted better-than-expected earnings on $11.9 billion in revenues amid efforts to recast itself as an Internet company in 1999.
HP reported earnings of 92 cents per diluted share, surpassing first-quarter earnings expectations of 83 cents per share based on consensus estimates from analysts surveyed by First Call.
The company managed to surprise analysts, who were expecting a decline from year-ago numbers of 86 cents per share. But cost-cutting, rather than revenue growth, was responsible for much of the surprise.
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HP's growth has not picked up; the company is trimming costs to cope with lower revenue. Revenues grew only one percent from year-ago figures, and earnings were up a modest 3.3 percent to $960 million for the first quarter.
"We've achieved a good profit outcome despite softness in some of our businesses and weak revenue growth," chief executive Lewis Platt said in a statement today
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