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Can Hewlett-Packard Company (HPQ) Deliver on These Mobile Promises?

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Shares of Hewlett-Packard Company (NYSE:HPQ) hurtled nearly 14% higher overnight thanks to a surprisingly solid second-quarter report. Adjusted earnings fell 11% year over year to $0.87 per share, but outpaced both analyst targets and management’s own guidance in the process. HP missed analyst estimates on the top line by a nose, delivering sales of $27.6 billion where Wall Street expected $28.1 billion. But investors clearly focused on rewarding HP for the bottom-line beat — not to mention that CEO Meg Whitman’s earnings guidance for the second half of 2013 also topped analyst estimates.

Hewlett-Packard Company (NYSE:HPQ) achieved all of this in spite of plunging PC sales. The personal systems division saw sales in a 20% year-over-year freefall, spearheaded by a 29% decrease in consumer systems. That’s another data point to confirm the death of the PC, at least in terms of PCs being the defining form of personal computing. Tablets and smartphones are doing real damage here.

But that’s OK, because HP is finally getting its groove on in the mobile market. Whitman is excited about marrying her personal systems strategy to Google Inc (NASDAQ:GOOG) in a big way.

Image source: HP and Google plus author’s illustration.

Hewlett-Packard Company (NYSE:HPQ) just introduced a range of mobile products powered by Google Inc (NASDAQ:GOOG)’s operating systems, including one budget-friendly Android tablet, one high-end Android slate that converts into a netbook, and HP’s first Chromebook product. “Early signs of interest in this product are encouraging,” Whitman said. “If we have the right product priced right, the channel still loves HP and they want to sell in our product, whether it’s to small businesses, medium-sized businesses or the enterprise and frankly, having Android products here helps a lot.”

I’ll keep a close eye on how Hewlett-Packard Company (NYSE:HPQ)’s Android and Chrome products do in the market. Running a fairly pure Android shop sure hasn’t hurt Samsung any, so maybe HP can copy the Korean vendor’s mojo by leaning closer to Mountain View.

Then again, all-in bets like these are always risky. HTC loves Android, but the market doesn’t love HTC back. LG sings the same sad song. And do I need to remind you how far Nokia Corporation (ADR) (NYSE:NOK) has fallen since hitching its wagon to a single horse named Microsoft Corporation (NASDAQ:MSFT) Windows Phone 8? Becoming Mr. Softy’s preferred partner was supposed to be a game-changing turnaround play for Nokia Corporation (ADR) (NYSE:NOK), but the Finns are still searching for the first sign of market traction.

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