HP forecasts fiscal 2011 earnings will rise by as much as 14 pct; no guidance on new CEO

HP sees 2011 earnings topping analyst projections

SAN FRANCISCO — Hewlett-Packard Co. expects its earnings in the upcoming year to exceed analyst projections.

The world’s largest technology company offered the rosy outlook Tuesday during a meeting with securities analysts. HP didn’t give any guidance on when it will appoint a new CEO.

HP says it expects earnings for the year through October 2011 to be $5.05 to $5.15 per share, excluding certain items. That’s up by as much as 14 percent from this year.

Analysts were forecasting $4.99 per share, according to Thomson Reuters.

Next year’s revenue is expected to total $131.5 billion to $133.5 billion, an increase of 5 percent to 7 percent.

HP is expected to announce a new CEO soon to replace Mark Hurd, who was ousted after a scandal that erupted in early August.