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HP says first quarter results will be just fine

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HP moved Wednesday to reassure investors about its performance in the first quarter.

HP took the unusual move of releasing its first quarter revenue forecast just ahead of the planned Feb. 19 official announcement of its results. HP expects to report revenue of $19.5 billion for the quarter - a total "consistent with the guidance the company provided at the beginning of the quarter."

A revenue total of $19.5 billion would put HP a the high-end of previous guidance and bit higher than current analyst expectations of $19.4 billion in revenue.

HP tends to be very concerned about the public's perception of its performance and admitted it was responding to nasty rumors with the earnings forecast.

"In light of recent speculation about our performance in this quarter, we elected to end that speculation by updating the markets as soon as possible," HP told a number of outlets. ®

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