HP Virtualization Journal

HP pre-announced its preliminary fiscal fourth quarter results Wednesday when it disclosed it was buying 3Com to stick it to Cisco.

In the process it raised its fiscal 2010 outlook.

It figures it'll show revenues of $30.8 billion, down 8% for the October quarter or down 5% when adjusted for the effects of currency and up 12% sequentially. Net earnings should work out to 99 cents a share, up from 84 cents year-over-year. Preliminary non-GAAP EPS were for $1.14, versus $1.03 last year.

HP CEO Mark Hurd bragged about "significant growth in China," where 3Com is supposed to widen its footprint significantly.

This quarter HP expects revenue of $29.6 billion to $29.9 billion and earnings of 90 to 92 cents with non-GAAP EPS between $1.03 and $1.05.

Its full-year prognosis is for a tickled 3.65 to $3.75 on $118 billion-$119 billion, up from its previous estimate of $117 billion-$118 billion. That would mean non-GAAP earnings of $4.25-$4.35, up from a previous estimate of $4.20-$4.30.

It released its earnings early to reassure investors about its $2.7 billion 3Com acquisition, the fourth-largest HP has ever made.

The company is supposed to post its results November 23.