HP CEO Meg Whitman: 10 Signs HP's Turnaround Is On Track

Email this CRN article

A Strong Balance Sheet

Whitman says HP's strong balance sheet is proof that HP is a stronger company than it was a year ago. HP has reduced its operating company net debt by nearly $8 billion over the last year, bringing it below the high debt level that soared when it paid $12 billion for Autonomy in 2011. "With that enhanced financial strength, I can tell you we have got a lot more flexibility to return cash to shareholders and to make investments needed to grow our business," said Whitman.

HP has also generated approximately $7 billion in free cash flow in the first nine months of the fiscal year, well ahead of initial guidance for the year. In fact, HP expects $8 billion in free cash flow for Fiscal 2013. What's more, HP says it has met or exceeded earnings per share outlooks from the outset of the turnaround.

Email this CRN article

Get a roundup of CRN's storage coverage right to your inbox with the Storage Insider newsletter.