http://money.cnn.com/2002/02/13/news/hp/
Hewlett-Packard on Wednesday reported a fiscal first-quarter profit that beat recently raised expectations and improved over the prior quarter.
And executives of the world's second-largest computer company held up the stronger-than-expected results to defend its controversial proposal to buyout of rival Compaq Computer.
After the close of trading, HP said it earned 29 cents per share, excluding merger-related and other one-time charges, during the quarter ended Jan. 31.
That's a decline from the year-ago quarter but is better than the 19 cents per share it reported in the fiscal fourth-quarter.
Including charges, HP said its net income for the quarter was $484 million, or 25 cents per share.
At $11.4 billion, HP's first-quarter revenue rose 4.6 percent sequentially from $10.9 billion in the fourth quarter but fell from $12.4 billion in last year's first quarter.
Most analysts raised their forecasts for HP's fiscal first quarter after executives last week said an initial review of the company's revenue and earnings for the quarter showed they had exceeded most expectations.
By buying out CPQ, HP can greatly mitigate it weakness in the PC industry and low-end server business, which is CPQ's strength. IMO, I think the merger is a good idea if HP can still concertrate on their core business model, with CPQ rounding out their portfolio.
Hewlett-Packard on Wednesday reported a fiscal first-quarter profit that beat recently raised expectations and improved over the prior quarter.
And executives of the world's second-largest computer company held up the stronger-than-expected results to defend its controversial proposal to buyout of rival Compaq Computer.
After the close of trading, HP said it earned 29 cents per share, excluding merger-related and other one-time charges, during the quarter ended Jan. 31.
That's a decline from the year-ago quarter but is better than the 19 cents per share it reported in the fiscal fourth-quarter.
Including charges, HP said its net income for the quarter was $484 million, or 25 cents per share.
At $11.4 billion, HP's first-quarter revenue rose 4.6 percent sequentially from $10.9 billion in the fourth quarter but fell from $12.4 billion in last year's first quarter.
Most analysts raised their forecasts for HP's fiscal first quarter after executives last week said an initial review of the company's revenue and earnings for the quarter showed they had exceeded most expectations.
By buying out CPQ, HP can greatly mitigate it weakness in the PC industry and low-end server business, which is CPQ's strength. IMO, I think the merger is a good idea if HP can still concertrate on their core business model, with CPQ rounding out their portfolio.