HP expects to outpace market in 2010

[sajiv]

HP expects to outpace market in 2010

CEO Mark Hurd said Thursday at a meeting with analysts that he expects the IT industry to return to growth in 2010 and went so far as to say that HP will outpace the market.

"Our broad product and services portfolio and global scale give HP a clear competitive advantage," he said in a statement. "As a result, we see tremendous opportunity to grow our business and improve earnings while delivering value to our customers."

The company provided HP's outlook for the year, with revenue expected to be between $117 billion and $118 billion, reflecting a year-over-year growth of 3 percent to 4 percent. GAAP earnings per share is expected to be $3.60 to $3.70, a year-over-year jump of 17 percent to 20 percent, and non-GAAP of $4.20 to $4.30, or 10 percent to 13 percent year over year. Here's a look at how that breaks down by segment: