Reuters/ . San Francisco
Hewlett-Packard Co raised fiscal 2011 results forecasts and a solid debut by new CEO Leo Apotheker calmed investors nervous about his vision, sending the technology company’s shares up 3 per cent.
Strong commercial computer, server and storage sales spurred better-than-expected quarterly results for HP, easing fears that the No 1 technology company by sales was distracted by internal turmoil. Former chief Mark Hurd departed in August after accusations of sexual harassment.
HP, the world’s No 1 PC maker, shrugged off the government spending cuts that have plagued Cisco Systems Inc.
Apotheker, who took over November 1, reassured Wall Street by sounding a predictably confident note on HP’s prospects.
‘He was solid. He did exactly what he needed to do,’ said Gleacher & Co analyst Brian Marshall. ‘Coupled with the strong financial performance, it made for a good quarter.’
Apotheker joked he may have set a world record for travel the past few weeks as he jetted around the globe to familiarise himself with HP’s sprawling business.
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