HP, the Numero Uno in PC and laptop manufacturing has surprised everyone by stating that its returns for fourth quarter will be higher than the analyst’s expectations.

Against the other technology bellwethers, HP has offered pleasant surprise to all. The other technology manufacturers have slashed their forecasts and looking for other alternatives to cope up with this economic grain.

With this announcement only, the share prices for HP have climbed more than 14 percent. For this quarter, analysts forecasted revenue of $33.09 for HP. But, HP has claimed that its revenues will touch $33.6 million.

Citing reasons for soaring revenues, HP cited global reach, diverse customer base and broad portfolio. HP completed acquisition of EDS in August, and to recover the expenses has initiated a massive lay off program.

In the current fiscal quarter, which ends in January, HP forecast earnings of 80 to 82 cents per share, with adjusted earnings of 93 to 95 cents per share, on sales of $32 billion to $32.5 billion.

Analysts were predicting a profit of 93 cents per share on sales of $33.7 billion.

Lalit Yadav/ITVoir Network