HP CEO Mark Hurd told analysts at a Securities Analyst meeting that he expects the IT industry to return to growth next year, and that he believes 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.