Hewlett-Packard may have missed some analyst expectations when it announced its fourth-quarter earnings report Tuesday, but investors don t seem to be fazed. Shares of the Silicon Valley tech giant are up more than 3.6 percent today, further adding to its 35 percent gain so far this year.
The company reported mixed results: PC sales rose, sales in the printing division fell, enterprise services revenue fell. Still, as our Steve Johnson wrote, HP CEO Meg Whitman was upbeat during yesterday s conference call, saying she was pleased with the results and that the company s turnaround plan is working, even as she said some areas needed more work. Whitman of course touted the company s upcoming split, which is expected to be completed by the end of next year.
We re going to make more progress as separate companies than we would have if we kept them together, Whitman said on the call.
Some analysts are skeptical. You re going to move some groups together, but does that change the issues facing this company? said Daniel Morgan of Synovus Trust, according to Bloomberg. There s no growth.
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