- Associated Press - Tuesday, February 22, 2011

SAN FRANCISCO (AP) - Hewlett-Packard’s earnings jumped 16 percent as the company benefited from expanded efforts to sell technology to businesses. But its revenue growth fell short of Wall Street’s targets, raising questions about the momentum of the company’s massive transformation.

HP reported after the market closed Tuesday that its net income was $2.61 billion, or $1.17 per share, versus $2.25 billion, or 93 cents per share, a year ago. Excluding items, HP earned $1.36 per share. That was ahead of analysts’ expectation for $1.29 per share, according to FactSet.

Revenue grew 4 percent to $32.30 billion. That growth wasn’t as robust as analysts expected. Analysts predicted $32.96 billion.

HP sought to counter fears by raising its full-year profit outlook to a range of $5.20 to $5.28 per share, excluding items. Analysts expected $5.23.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide