HP raises 3Q earnings forecast
The company expects a profit of $1 per share, up from a previous forecast of $.94 to $.97. HP also said it expected an $8 billion write-down from its service segment.
In addition, HP expects a pre-tax charge of $1.5 billion to $1.7 billion, up from a previous estimate of $1 billion in the third quarter. The change is primarily driven by a higher than anticipated acceptance rate under its early retirement program and faster than expected implementation of its workforce reduction program.
The company did not provide an updated outlook for fiscal 2012.
The company could cut 9,000 jobs in the United States by the end of fiscal 2014. How many employees in Fort Collins the company might layoff remained unknown Wednesday, though the reduction was expected to affect almost every business and region.
The company has not released its Fort Collins employment numbers, though it is estimated to employ at least 1,200 people here.
HP has said its restructuring will lead to as much as $3.5 billion in savings by the end of fiscal 2014.
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