Hewlett-Packard Co's quarterly profit slid 32 percent but the world's largest personal computer maker raised the lower end of its full-year outlook after earnings per share beat forecasts, sending its stock 10 percent higher.
Net income fell to USD 1.08 billion, or 55 cents a share, from USD 1.59 billion, or 80 cents a share, a year earlier.
The company earned 87 cents per share on an operating basis during the second quarter on revenue of USD 27.6 billion.
HP had expected earnings of 81 cents a share on revenue of just over USD 28 billion, according to the average estimate of analysts polled by Thomson Reuters I/B/E/S.
Last week, Dell Inc
reported a 79 percent slide in profit.
The company now expects full-year non-GAAP earnings per share of USD 3.50 to USD 3.60. It raised the lower end by 10 cents.
HP Chief Financial Officer said in an interview that HP's better-than-expected results in the enterprise services business and printing unit helped drive margin improvement. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
