HP SET TO TOPPLE IBM

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HP SET TO TOPPLE IBM

 user 2006-11-21 at 12:01:00 pm Views: 53
  • #17211

    HP Set to Topple IBM
    HP is set to become world’s largest tech company
    Hewlett-Packard
    is picking up steam and is on its way to unseat Big Blue as the world’s
    largest tech company. HP’s fourth quarter earnings report showed that
    all of its business units are performing optimally and its sales are
    expected to be ahead of IBM for the year.In recent years, investors
    have the majority of HP’s profits come from its printer business. It’s
    highly profitable ink cartridge unit was the company’s star performer.
    But today, HP is seeing all of its business units firing on all
    cylinders. Its corporate computing division has increased operating
    profits by 47% to $4.7 billion USD and quarterly sales for its PC unit
    have grown 10% to $7.8 billion USD. BusinessWeek reports:Overall
    revenues grew 7.2%, to $24.6 billion for the quarter, impressive for a
    company the size of HP. For the year, HP pulled in sales of $91.7
    billion, a 6% increase. That’s a smidgen ahead of IBM’s projected
    annual sales, making HP tech’s biggest player. HP generated $11.4
    billion in cash for the year, up from $3.3 billion the year before.
    That leaves it with $16.4 billion in cash, up from $13.9 billion at the
    end of the previous year.Most of the recent gains have been attributed
    to HP’s CEO, Mark Hurd. Hurd came to the company after the ouster of
    Carly Fiorina.But despite all of HP’s financial gains for the year,
    there are still a few legal matters that are swirling around the
    company concerning boardroom leaks.