HP CEO Makes Little Noise in First Meeting with Analysts14 Dec, 2005
HP CEO Makes Little Noise in First Meeting with Analysts
On Tuesday, Hewlett-Packard Chief Executive Officer Mark Hurd told Wall Street analysts that he has no big changes in store for the printer and computer goliath. Instead, he said, the company needs to execute better on its current strategy.
Hurd highlighted some of the technology trends the company intends to take advantage of, including digital printing, in order to grow.
Before Hurd took over the Palo Alto-based company eight months ago, several Wall Street analysts were clamoring for HP to spin off its lucrative printing business, saying it was worth more to shareholders alone than as part of the mammoth computer company. Hurd, however, made it clear he plans to keep HP together.
HP executives said they expect revenues in fiscal 2007, which begins Nov. 1, 2006, to grow 4-6 percent from the previous year. The outlook for fiscal 2006, which began Nov. 1, remains the same, with revenues expected to rise 3-5 percent to $89.5-$91 billion.