HP raises underlying EPS guidance

News Broadband Global 8 AUG 2012
HP raises underlying EPS guidance
HP announced that its current senior vice president and general manager of HP Enterprise Services, Mike Nefkens, will lead HP ES on an acting basis. John Visentin, who previously ran HP ES, will be leaving the company and Jean-Jacques Charhon, current senior vice president and chief financial officer of HP ES, has been appointed chief operating officer of HP ES. HP has also updated the amount of the pre-tax charge it expects to record for the third quarter 2012 in relation to its restructuring programme announced 23 May. HP now expects to record a pre-tax charge of around USD 1.5-1.7 billion, an increase of around USD 1 billion from its previous estimate. As a result, the company expects to report a loss per share of USD 4.31-4.49 for the quarter. Excluding one-time items, HP expects adjusted EPS of USD 1.00 per share, up from earlier guidance of USD 0.94-0.97.

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