Boston, MA 08/21/2114 (wallstreetpr) – PC maker and software solutions provider Hewlett-Packard Company (NYSE:HPQ) Chairman, President and Chief Executive Officer, Meg Whitman, disclosed that the company expects to continue to gain share in the PCs segment, where it had delivered 12% growth during the recent third quarter. The CEO cited PCs division as one of the areas of growth opportunities.
PC Market Improving
Every since the chip maker Intel Corporation (NASDAQ:INTC) disclosed last month that it was witnessing demand from the business segment while boosting its revenue projection, other companies too started confirming the trend, Bloomberg reported. For instance, Microsoft Corporation (NASDAQ:MSFT) said that it could witness improvements in the PC market.
Now the latest to join was Hewlett-Packard Company (NYSE:HPQ). It had not only recorded 12% uptick, but also expects to continue to make strong inroads to gain its share in the PC segment. During the third quarter, the company’s commercial revenue in the Personal Systems segment advanced 14% while consumer revenue grew 8%. Total unit sales recorded 13% uptick with Desktops and Notebooks witnessing 9% and 18% growth respectively.
CEO Comments
During a conference call, the company’s CEO said that there were opportunities to grow, particularly in PCs segments where it can continue its uptrend. Whitman had also acknowledged that Hewlett-Packard Company (NYSE:HPQ) had experienced flat businesses or declining trend in other businesses. However, she said that the company had become strong enough since it was forged into the misfortune of a turnaround.
Outlook
Hewlett-Packard Company (NYSE:HPQ) expects adjusted earnings to be $1.03 – $1.07 a share for the fourth quarter while estimating GAAP earnings of 83 – 87 cents a share. On average, Wall Street analysts estimate earnings of $1.05 a share.
For the fiscal year 2014, the company had guided adjusted earnings to be $3.70 – $3.74 a share while analysts’ predict $3.72 a share.
3Q Results
The company reported net earnings of $985 million, down from $1.39 billion and the earnings lipped to 52 cents a share from 71 cents a share in the year-ago quarter. On an adjusted basis, earnings would have been 89 cents a share compared to 86 cents a share in the prior year quarter. Net revenue rose 1.32% to $27.59 billion from $27.23 billion in the previous year quarter.
