PC maker HP issues upbeat guidance for 2014

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Associated Press

Posted on October 9, 2013 at 1:07 PM

Updated Wednesday, Oct 9 at 1:07 PM

SAN JOSE, Calif. (AP) — Computer maker Hewlett-Packard Co. on Wednesday projected earnings for the fiscal year starting in November that exceeded analysts' forecasts.

In a meeting with analysts, CEO Meg Whitman says the computer maker will also see "stabilizing revenue declines" next year.

HP has been trying to ease the pain of a declining PC market by cutting costs and focusing on more profitable areas.

The San Jose, Calif., company expects net income, excluding one-time items, of $3.55 to $3.75 per share in fiscal 2014. The midpoint is 3 cents higher than the $3.62 analysts polled by FactSet had expected.

HP's stock is up 5.6 percent to $21.92 in afternoon trading.

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