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I didn't see this coming.

The company now expects second-quarter net income of 64 cents to 65 cents per share -- or 69 cents to 70 cents excluding amortization costs.

HP projects sales for the second quarter will range from $25.5 billion to $25.55 billion.

Analysts expect earnings, on average, of 65 cents per share on $24.58 billion in revenue, according to a Thomson Financial survey.

The company projected in February second-quarter earnings of 57 cents to 58 cents on roughly $24.5 billion in revenue. Excluding one-time costs, the company had forecast profit of between 63 cents and 64 cents per share for the quarter.

That's great news, but why are they announcing it now?

HP said it decided to update its guidance after an internal e-mail with financial details of the quarter was accidentally sent to someone outside the company.

Oh.

Posted by edelfenbein at May 8, 2007 9:43 AM