US high-tech giant Hewlett-Packard on Tuesday posted a 9.3 percent gain in quarterly earnings, helped by better sales results in its personal-computer and corporate businesses.
In its fiscal second quarter, which ended April 30, HP reported net income of US$966 million, or US$0.33 a share, compared with US$884 million, or US$0.29 a share, in the year-earlier quarter.
Revenue climbed 7 percent to US$21.57 billion from US$20.11 billion in the comparable period for last year, though sales barely budged from the prior quarter's level of US$21.45 billion.
Excluding one-time costs, California-based HP would have earned US$0.37 a share. HP was expected to earn US$0.36 a share on sales of US$21.4 billion, according to the consensus of analysts surveyed by Thomson First Call.
Looking ahead, however, the company raised a red flag. HP indicated the current quarter's earnings would fall short of Wall Street's forecast, though it has not changed its revenue target.
The earnings report was the first issued since the hiring of chief executive Mark Hurd in early April, who replaced the ousted Carly Fiorina.
"HP had a solid quarter," Hurd said in a statement. "Nevertheless, our overall performance leaves room for improvement in many of our businesses. We expect to provide details as soon as our plans are finalized that will move us toward that objective."
Many analysts and investors expect the company to announce restructuring plans that could include spinning off one or more of its business units.
For the third quarter, HP forecast earnings from operations of US$0.29 to US$0.31 a share on revenue of US$20.3 billion to US$20.7 billion.
Wall Street was forecasting earnings of US$0.32 a share on revenue of US$20.3 billion.
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