HP Expects 20% Rise in Per-Share Profit for ’04

Hewlett-Packard Co. will increase per-share profit by more than 20% this year and “the next couple” of years as sales grow faster than the market, Chief Executive Carly Fiorina said.

Fiorina, at a meeting with analysts in San Jose, repeated a forecast for sales growth in the “high single digits.”

HP plans to boost sales by winning more orders from existing clients, and the company wants to tap into new markets, including digital media, management software and security.

HP shares rose 34 cents to $22 on the New York Stock Exchange.