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Nominations are now open for the Channel Insider 2009 Bull’s Eye Awards, which recognize excellence in customer service, technology prowess, business acumen, channel leadership, communications and community building, and innovation among vendors, solution providers, distributors and channel services companies.
HP Chairman and CEO Mark Hurd said the company's business continued to stabilize in the third quarter and revenue was in the higher end of its prior guidance.
HP experienced a two per cent year-over-year decline in net revenue in the third quarter of its 2009 fiscal year, and revenue in most of its business units were down, but one industry analyst said the company's size and diversification will help it do well later this year and into 2010.
According to Mark Hurd, chairman and CEO of HP, the company's business continued to stabilize in the third quarter and revenue was in the higher end of its prior guidance.
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"We generated $3.9 billion (US) of cashflow, bolstering our strong balance sheet. I'm pleased with our execution in a tough business climate," Hurd said.
The U.S. remained stable for the second quarter in a row, but the company experienced continuing difficulties in Europe. At the same time, its business in China grew. According to Hurd, HP is realizing the benefits from its own IT transformation, which has resulted $1 billion in savings.
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