Hewlett-Packard surges after profit tops estimates

Updated Thursday, November 20, 2008 11:11 am TWN, Bloomberg

Hewlett-Packard surges after profit tops estimates

NEW YORK -- Hewlett-Packard Co. rose the most in seven years in New York trading after posting profit that beat analysts’ estimates and forecasting growth in 2009, signaling that the personal-computer maker will withstand a global slump. Fourth-quarter earnings were US$1.03 a share, excluding some costs, Hewlett-Packard said today. That beat the US$1 average of projections compiled by Bloomberg. Profit in the next fiscal year will advance to between US$3.88 and US$4.03, with the midpoint of that range surpassing estimates.

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