Hewlett-Packard has seen its second-quarter profits rise 51 percent after a big turnaround

With help from surging laptop sales and profits exceeding even the most generous forecasts from Wall Street, Hewlett-Packard is on another comeback.  Higher revenue, cost cutting and significant gains have helped contribute to the turn around that HP, the world's second-biggest PC maker, has seen in its latest quarter.  HP has several ways that it is trying to cut corners to save money.  The first method is never a popular one: job cuts.  The company is currently around halfway done with its proposed job cuts of around 15,000 employees.  Another way is that it will begin limiting the number of sites that store the company's crucial business data. The San Jose Mercury News reports:

There's "dramatic improvement in almost all of HP's businesses,'' Shaw said Tuesday after HP announced its quarterly earnings. HP reported net income of $1.5 billion on revenue that rose 5 percent year-over-year to $22.6 billion. Excluding one-time expenses, earnings were 54 cents a share -- beating analysts' expectations by 5 cents a share.

Analysts were skeptical when Mark Hurd said that he aimed to stabilize the company when he became the new CEO after Carly Fiorina was ousted.  So far, it looks like he is on the right track.

"A politician stumbles over himself... Then they pick it out. They edit it. He runs the clip, and then he makes a funny face, and the whole audience has a Pavlovian response." -- Joe Scarborough on John Stewart over Jim Cramer
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