HP's Whitman: PC market is definitely getting better
Ronda Churchill | Bloomberg | Getty Images
Meg Whitman, CEO of Hewlett-Packard.
Fresh off reporting better-than-expected earnings that showed renewed growth in its hardware business, Hewlett-Packard's CEO Meg Whitman told CNBC on Friday that she sees 'brightness' in the PC market despite more negative forecasts in that sector and a move toward cloud computing.
'The market is definitely getting better,' Whitman said on ' Squawk on the Street.' 'Business is understanding and employees are understanding that they may want a tablet, but they also need a more traditional compute devices to get their work done that is going to be required in this world of big data and analytics.'
( Read more: Expect revenue to stabilize in 2014: HP's Whitman)
HP reported first quarter earnings after-the-bell on Thursday, posting strong growth in its enterprise group, which focuses on servers and other hardware. Despite slightly decreasing operating margins, that group sported its second consecutive quarter of growth after two years of revenue declines.
( Read more: HP reins in revenue slide as turnaround progresses)
The positive quarter shows that HP's gamble on hardware, amid a years long turnaround plan to transition from a shrinking PC market to a mobile and cloud-based environment, may begin paying off. HP's revenue fell by about 1 percent to $28.2 billion last quarter, with income growing 16 percent to $1.4 billion-both numbers beating Wall Street estimates.
During an interview with CNBC in November, Whitman said revenues would most likely stabilize in 2014, but not grow, as the company focuses on the business computer and tablet market. She also said HP would make small inroads into the 3-D printing space.
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