European electronics maker Royal Philips Electronics has posted an unexpected third-quarter profit due to the fact that the company’s operating earnings in its consumer unit almost doubled. Considering the dire straits that the technology industry has been through since the onset of the witehring recession, Philips’ performance has come as something of a surprise to many analysts.
The company’s third-quarter net income rose to $256 million, marking a rise of almost 300 percent from the same period last year’s figures. Philips’ performance completely smashes analyst expectations, with analysts expecting a net income loss of 44.7 million euros, or about $66 million. Sales, …read more

Computer maker Hewlett-Packard released today a revenue forecast that predicts that the company will bring in notably less revenue in 2010 than analysts had estimated for the company. HP broke the news to analyst at a meeting in San Francisco, a revelation that has had already had a negative impact on the value of its stock.
 
Hewlett-Packard is expecting 2010 revenue to be anywhere from $117 billion to $118 billion, but a Bloomberg survey of analysts estimates placed expectations for the company at a revenue of $118 billion. CEO Mark Hurd is still confident, though, that his company will grow faster …read more