HP bumps up outlook for next year

The company has reported fourth-quarter and annual earnings in line with expectations and has raised its financial targets for 2010

Hewlett-Packard on Monday reported fourth-quarter earnings that were in line with a preliminary release last week, when the company announced plans to acquire 3Com.

For the quarter, the company reported earnings of $1.14 (£0.69) per share on $30.8bn in sales. Analysts had been expecting $1.13 per share on $30.4bn. For the full year, the company reported earnings of $3.85 per share, on sales of $114.6bn.

Looking ahead, the company forecast earnings of $1.03 to $1.05 per share on sales of $29.6bn to $29.9bn for the first quarter — which would include the holiday season.

For more on this story, see HP reports Q4; raises outlook for 2010 on ZDNet.com.