HP misses analysts’ estimates

HEWLETT-PACKARD, the world’s largest computer maker, forecast fiscal fourth-quarter and full-year earnings that missed analysts’ estimates because of lacklustre consumer spending.

Sales for the period ending in October will be $32.1 billion (€22.39bn) to $32.5bn (€22.67bn), Palo Alto, California-based Hewlett- Packard said in a statement last night. That missed the average $34bn estimate of analysts surveyed by Bloomberg. Earnings excluding some items will be $1.12 to $1.16 a share, compared with analysts’ $1.31 average estimate.

For the full fiscal year, revenue will be $127.2bn to $127.6bn, compared with an average estimate of $129bn. Earnings excluding some items will be $4.82 to $4.86, missing the average $5 estimate.