HP’s fortunes waxing, CEO says

The CEO of HP told analysts yesterday that her business is on the mend.

Meg Whitman said that falls in its revenue last year will be stemmed in financial year 2013, showing some growth.

HP has suffered because it formerly relied on sales of printers and of PCs – both markets are currently in the doldrums.

Whitman told the Wall Street analysts that she wasn’t going to spin off parts of the firm nor would she start another restructuring.  The last restructure saw nearly 30,000 people losing their jobs.

HP shares (tick: HPQ) rose on Wall Street after the announcement, to stand at $22.65 at close of play.