Investors will be closely monitoring
first-quarter results Wednesday to see whether the tech giant is living up to its recession-proof billing.
Seen as one of the few tech companies successfully
the current financial storm, H-P has largely avoided the worst effects of the economic downturn.
Guided by CEO Mark Hurd, H-P
Wall Street's fourth-quarter revenue estimates, thanks to its booming services business and solid growth in its Personal Systems Group.
H-P, which exited the fourth quarter with $10.3 billion in cash, has also earned a reputation for
and expects to shave $1 billion off its expenses in 2009 through its ongoing integration of services firm
H-P has also outlined plans to improve supply-chain efficiency, exploit lower component costs and curtail hiring.
Analysts expect the Palo Alto, Calif.-based firm to report first-quarter revenue of $31.93 billion, and earnings of 93 cents a share, up from $28.5 billion and 86 cents a share during the same period last year. H-P itself has forecast first-quarter earnings between 93 cents and 95 cents a share.
H-P, which competes with
in hardware, and with
in services, has largely side-stepped the problems that have hammered some of its competitors. The company has even managed to exploit Dell's
, for example, and is also seen as
against IBM in the server space.
With Dell locked in a major
and IBM recently
the Street's fourth-quarter revenue estimates, H-P has a great opportunity to claw market share from its rivals.
H-P, which has been making a song and dance about its
recently, has also been focusing its attention on
. Last month, for example, the firm teamed up with
to consolidate various applications onto a single piece of switch hardware.
H-P's shares rose 6 cents, or 0.2%, to $34.40 in early trading Wednesday, as the Nasdaq crept up 0.58%.