HP Set To See Profit Growth
It is expected that Hewlett-Packard will achieve a strong profit growth for the second quarter, when the US markets close on Tuesday. Investors are expecting to see the company achieve similar results to its competitors, IBM and Cisco systems.
Compared to 86 cents in the same quarter last year, Wall Street analysts expect earnings per share to have rocketed to $1.05 when the results are announced later this week. Sales are projected to go down slightly from the last quarter but to be up on the results from last year, reaching a total of $29.8 billion.
Due to the recent closure of HPs latest acquisition 3Com, questions have been raised about the success of the company. However a recent announcement that HP have purchased Palm for $1.2 billion have left analysts waiting with baited breath to see the companies financial results at close of play on Tuesday.
HP have delayed the release of a slate computer using Windows 7 which had been scheduled for release and was planned as a competitor for the Apple iPad. However following the purchase of Palm, speculators are conjecturing that the launch could be pushed back even further to accommodate new software from the smartphone creators.
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