HP has reportedly disclosed its earnings estimates for fiscal 2010, with anticipated revenue slightly lower than analysts are expecting. Despite that, HP CEO Mark Hurd told investors that the computer-maker would outperform the industry. In addition to outpacing the market, Hurd said HP expects the IT industry to return to growth in 2010.
The company is anticipating the resumption of corporate spending, with companies ready to replace aging machines -- which may be partially fueled by the launch of Windows 7. Although the company expects spending to resume, CFO Cathie Lesjak doesn't foresee the increase to be robust. HP is forecasting revenue of $117 to $118 billion for fiscal 2010 -- around 11.4% to 11.6% profit. Analysts pegged the company for $118.1 billion in revenue.
The computer-maker expects its PC business to grow by 3% to 5% on year, and its services business by 2% to 4%. After its $13 billion acquisition of EDS this year, HP has become the second largest provider of tech services -- just behind IBM.