Fiorina Announces 4Q Lower Than Expected
During an October 1, conference call with Security Analysts, Carly Fiorina, HP's new president and CEO, surrendered a certain reluctance about talking about the future of HP. Unfortunately, some of the news was not as good as expected.
Fiorina indicated that HP's fourth quarter revenue growth expected to be within 10% to 13% range could be jeopardized by the aftermath of the Tawain earthquake. Wall Street analysts were predicting about 7% growth. The admission set HP's stock price back about 20% from recent highs. However, HP's printer and imaging, PC and UNIX business are doing well. HP's Internet-based E-services strategy is also gaining recognition. Full text of her remarks.