Hewlett-Packard earnings
Palo Alto computer and printer giant Hewlett-Packard this afternoon reported $2.5 billion profit for its most recent quarter, up 5 percent from a year earlier. Fourth-quarter revenue jumped 8 percent to $33.3 billion.
HP released results just after the stock markets closed today.
"HP proved once again that it is able to execute given its market strengths and technology leadership," new CEO Léo Apotheker said in a statement accompanying the results.
"I have seen firsthand that we have talented people who are focused on delivering value for our customers," Apotheker said. "Our market opportunity is vast, and I am confident that we will extend our leadership into the future."
HP's earnings came in at $1.10 a share -- or, excluding certain costs, $1.33 a share. On that basis, Wall Street analysts had expected adjusted earnings of $1.27 a share on $32.8 billion in revenue.
For the current quarter, HP expects revenue of $32.8 billion to $33 billion and earnings of $1.06 to $1.08 a share -- or $1.28 to $1.30 excluding costs. The outlook for revenue and earnings also beat Wall Street forecasts.
Before the earnings were released, HP shares finished regular trading at $43.27, up 76 cents, or 1.8 percent. The stock was rising in after-hours trading.
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