siliconANGLE » HP Has High Profits Planned, Despite a Missing CEO

HP Has High Profits Planned, Despite a Missing CEO

Kristen Nicole | September 29th
READ MORE

Hewlett-Packard is hopeful towards the future, with increases expected for its 2011 revenue by as much as 7%. Interim CEO Cathie Lesjak noted HP’s position in the market during the company’s annual analyst day event this week, particularly as it pertains to the future of the tablet market and its goals for Palm, which the company acquired earlier this year. From the Wall Street Journal,

“Executives highlighted H-P’s plans for handset maker Palm Inc., which it bought for $1.2 billion earlier this year. Executive Vice President Todd Bradley told analysts he expects the company’s touchscreen tablet, which is slated for release early next year, will control an estimated 17% of the market in 2013.”

Lesjak went on to announce some other hopeful projections, estimating revenue for 2011 of $133.5 billion, with profits (excluding items) likely between $5.05 per share and $5.15 per share. These estimates are ahead of analysts’ expectations for HP, which were placed at $131.4 billion in revenue for next year.

Everything looks pretty rosy for HP, except the fact that the company is still lacking a replacement for Mark Hurd, who recently took a co-President position at Oracle after stepping down from HP. According to the Wall Street Journal, Lesjak commented on HP’s strengths towards finding a candidate, with some options inside and outside the company, but no other comments were made on the subject.

Even as HP remains a leader in device manufacturing, while also seeking a big chunk of the cloud computing industry, the company still needs to stabilize its executive positions as the company moves forward on everything it’s prepared in the past year. Having a string of acquisitions on its tail, including the recently closed 3PAR deal, means HP still has quite a road ahead.

In the same vein:

About Kristen Nicole

Named by Forbes as a top influencer in Big Data, Kristen Nicole is a Senior Editor at SiliconANGLE.com. She got her start with 606tech, a Chicago blog she dedicated to the social media space, going on to become the lead writer and Field Editor at Mashable. Kristen Nicole has also contributed to other publications, from TIME Techland to Forbes. Her work has been syndicated across a number of media outlets, including The New York Times, and MSNBC. Kristen Nicole’s latest accomplishment has been co-authoring The Twitter Survival Guide, and she’s currently completing her second book.

Trackbacks

  1. HP Has High Profits Planned, Despite a Missing CEO | Wall Street Market Resource says:
    September 29, 2010 at 11:48 am

    [...] more on SiliconANGLE Share and [...]

  2. SiliconANGLE — Blog — HP's New CEO: Leo Apotheker of SAP | Daily Updates says:
    September 30, 2010 at 7:23 pm

    [...] cloud company, FalconStor, had some executive shake-ups as well. Jim McNiel is the company’s interim CEO, as [...]

  3. SiliconANGLE — Blog — HP Debuts Palm Pre 2, Backed by New webOS 2.0. Can it Compete with Apple and Android? says:
    October 19, 2010 at 8:40 am

    [...] war for storage service 3PAR, HP's mobile niche is only one portion of a much larger picture, with plans to keep pushing [...]

  4. SiliconANGLE — Blog — HP and IBM Bring On New Employees Across the Globe says:
    October 21, 2010 at 10:19 am

    [...] HP and IBM showed strong revenue from their Q3 results this week, indicating an ongoing interest in [...]