/// Q&A With HP CEO Meg Whitman and CFO Cathie Lesjak: The Turnaround Is on Schedule
If shareholders were eager for evidence that the turnaround plan at troubled technology giant Hewlett-Packard was still in place, they got it but good from the company today. After rivals like Dell and IBM turned in earnings reports that came up short, owning to the tough state of IT spending, it says a lot about how far HP has come in the last year that it is the one reporting results that handily beat the forecasts of analysts. HP shares rose more than 13 percent to $24.05 in after-hours trading. But in a short phone interview with AllThingsD , CEO Meg Whitman and CFO Cathie Lesjak reiterated what they said on a conference call with analysts: Progress has been made, but there’s still a lot of work to be done. AllThingsD: Meg, let’s talk about the state of the competitive environment. We heard some pretty tough results from Dell last week, and you said on the call that HP was choosing to pass on some deals in order to protect profit margins. Tell me a little more about that. Whitman: For the long term, profitability remains a focus for us because we can’t afford to let our profitability crater the way Dell did. We have to have the ability to invest in the next generation of PCs and servers and software. It was a tough quarter. We walked away from several deals and lost some share.