Emerging Markets to the Rescue
NEW YORK (CNNMoney.com) -- Personal computer and printer maker Hewlett-Packard reported strong gains in sales and earnings for its fiscal first quarter Tuesday, a sign that the tech giant is gaining market share against key rivals and that its cost cutting is paying dividends. Shares of HP surged nearly 6% in after hours trading.
For its first quarter, which ended in January, HP's net revenue jumped 13% to $28.5 billion, ahead of the $27.6 billion that analysts were expecting.
The company said that 69% of its first-quarter revenue came from outside the United States. Revenue from emerging markets Brazil, Russia, China and India grew 35% from a year ago.
3 Comments:
HP's stock didn't rise because it is doing so well, it rose because it's earnings exceeded the analysts estimates. Slightly. It's normal stuff, nothing to get excited about.
Google "chapter 11" in Google News...
The U.S. moved closer to a recession as manufacturing in the Philadelphia area shrank the most in seven years, while a measure of the economy's future performance declined for a fourth month.
To the rescue from quality and the assurance that the US will not be listened to? No thanks, but I'd rather pass on Far Eastern built junk.
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