'Lot Of Heavy Lifting Ahead' For HP: Meg Whitman

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Hewlett-Packard is slightly ahead of where the company thought it would be on its path toward reinvention but it still has a way to go to restore itself to health, CEO Meg Whitman tells CNBC.

She said the computer maker would have to adapt to the "new style" of a changing technology sector.

The five-year transformation that Whitman established when she took the reins helped the beleaguered computer giant beat Wall Street estimates in the second quarter.

(Read More : Profit Down, but HP Beats Estimates )

"You don't have to wait five years to get results. I'd say we're just a bit ahead of where we thought we'd be," she said in a " Squawk Box " interview. "We've got a long way to go. There's a lot of heavy lifting ahead."

In an environment where personal computer sales have plunged while portable devices and smartphones rule the roost, Whitman insisted that consumers will still find value in HP products. In the fiercely competitive information technology sector, she said her company would have to tailor its priorities to "the new style of IT, because everything is changing in IT."

What happens to the PC business is "the biggest wildcard," Meg Whitman said.

"The need to create, consume, to share is exploding because data is exploding, and there's so many more things you can do as an individual," she said. "We've got to get to mobility, we've got to get to other operating systems, and other things" that consumers demand.

Although analysts doubt the ability of PCs to weather the onslaught of smartphones and tablets, Whitman insisted that "it matters what happens to HP. It matters to our industry, it matters to our customers."

Whitman also touted what she called HP's growing complement of products. "I think this is the strongest lineup that HP has seen in many years," she said.

-By CNBC's Javier David.

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