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HP enterprise sales pickup stirs turnaround hopes


By Poornima Gupta SAN FRANCISCO (Reuters) – Hewlett-Packard Co beat revenue forecasts as sales growth in its enterprise group inspired cautious optimism about the companys turnaround plan, and its shares rallied more than 7 percent. Revenue from the sprawling enterprise group, which Chief Executive Meg Whitman is focused on expanding as personal computer sales crumble globally, climbed 2 percent, aided by a 10 percent rise in server sales and 3 percent growth of the networking business. Wall Street had low expectations for HP following a disappointing third-quarter performance, and after rivals such as International Business Machines Corp and Cisco Systems Inc had reported poor results. The pickup in enterprise hardware revenue in the fiscal fourth quarter – coming after a 9 percent slide in sales from the same division in the previous three months – helped shore up confidence in Whitmans turnaround effort.

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