HP CEO: we're doign better, but not great

Posted on Thursday, Jul 19 2007 @ 04:30 CEST by Thomas De Maesschalck
HP's CEO Mark Hurd claims world's biggest computer maker has improved during the two years that he's been CEO but that the company still has a very long way to go:
"I would give us a good grade on improvement. I think we are better incrementally. I think we are still poor absolutely," Hurd said in an onstage interview last week at Fortune magazine's annual technology conference in San Francisco.

Hurd joined Palo Alto, Calif.-based Hewlett-Packard a little over two years ago from a smaller computer rival, NCR, and has seen a sharp revival in the company's stock price built on solid market-share gains.

"We are doing better. We are not doing great," Hurd said. "On an absolute basis, we have a ton to do.

Hurd said HP's long-term sales outlook remained one of modest growth. Recent better-than-expected revenue growth of about 13 percent, aided by 3 percentage points of favorable currency exchange rates, was not sustainable, he said.

"Think of us as a 4-to-6-percent-growth company," Hurd said. Acquisitions, when they occur, will remain "smallish (and) non-transformational"--in other words, no megadeals.
More info at CNET.

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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