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Business Briefing / Earnings

HP outlook hints at slow recovery

September 25, 2009|Times Staff and Wire Reports

PC maker Hewlett-Packard Co. forecast that sales for fiscal 2010 would be at or below some analysts' estimates, indicating that the technology market is still taking time to recover.

Sales will be $117 billion to $118 billion, the Palo Alto company said. Analysts had estimated sales of $118 billion, according to a Bloomberg survey.

Profit in fiscal 2010 will be $4.20 to $4.30 a share, HP said. Analysts had predicted $4.21, a Bloomberg survey said.

HP shares lost as much as 67 cents in extended trading after closing down 6 cents at $46.87.

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