This was originally posted at ZDNet's Between The Lines.
Hewlett-Packard is bullish on 2010.
CEO Mark Hurd said Thursday at a meeting with analysts that he expects the IT industry to return to growth in 2010 and went so far as to say that HP will outpace the market.
"Our broad product and services portfolio and global scale give HP a clear competitive advantage," he said in a statement. "As a result, we see tremendous opportunity to grow our business and improve earnings while delivering value to our customers."
The company provided HP's outlook for the year, with revenue expected to be between $117 billion and $118 billion, reflecting a year-over-year growth of 3 percent to 4 percent. GAAP earnings per share is expected to be $3.60 to $3.70, a year-over-year jump of 17 percent to 20 percent, and non-GAAP of $4.20 to $4.30, or 10 percent to 13 percent year over year. Here's a look at how that breaks down by segment:
(Credit:
HP)
The company said it plans to improve margins, by leveraging a leaner cost structure, while continuing to invest for growth.
(Credit:
HP)
In a Q&A with analysts, Hurd addressed projections for the printing division, once considered a cash cow for the company. HP sees strong growth ahead in printing and executives noted that more revenue will come from hardware than supplies. Hurd said he expects "strong, let me say it one more time, strong growth" in printing and will be aggressive about gaining market share.
"If the market is there, we'll be there to get it," he said.
Advanced Micro Devices warned Thursday its fourth-quarter revenue will come in significantly lower than previously expected, due to weakness across all regions in all its businesses.
AMD shares were climbing back up in the morning, after having dipped to as low as $1.92 just after the markets opened.
The chipmaker said Thursday it expects to post revenue of $1.19 billion in the quarter ending December 27, excluding process technology license revenue. That's 25 percent below its third-quarter performance.
When the company reported its third-quarter revenue of $1.59 billion (excluding the process tech license revenue) in October, AMD predicted its fourth-quarter revenue would be "roughly flat" that of the third quarter.
While AMD is still willing to issue a forecast for its fourth quarter, a number of companies that have released quarterly warnings since late October have indicated they are not willing to stick their necks out again in this uncertain climate.
SAP, for example, pulled its year-end forecast, after reporting third-quarter results. And Dell, when it reported its third-quarter results, declined to provide any guidance on how it expected the fourth quarter to shape up.
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