Hewlett-Packard Co reported worse-than-expected quarterly revenues and issued an earnings forecast for the current quarter that was below Wall Street's expectations.

The company said its net profit for its fiscal first quarter ended Jan. 31 fell to $1.85 billion, or 75 cents a share, from $2.13 billion, or 80 cents a share, in the year-ago period.

Excluding items, HP earned 93 cents a share, matching average analyst estimates, according to Reuters Estimates.

Revenue rose 1 percent to $28.8 billion, below the $31.9 billion Wall Street estimate.

For the current quarter, HP expects a profit of 84 cents to 86 cents a share from continuing operations, on a revenue decline of 2 to 3 percent from a year ago. That compares with the average Wall Street forecast for earnings of 90 cents a share on revenue of $31 billion.

By: DocMemory
Copyright © 2023 CST, Inc. All Rights Reserved