But despite the beat, shares barely moved in after-hours trading.
Adjusted profit rose 17% year-over-year to $1.33 a share, while revenue rose 8% to $33.3 billion.
Analysts had expected a profit of $1.27 a share on revenue of $32.75 billion.For the first quarter of fiscal 2011, HP expects revenue of $32.8 billion to $33.0 billion and adjusted profit in the range of $1.28 to $1.30. Analysts had predicted revenue of $32.7 billion and adjusted profit of $1.22. This quarter, investors will hear from new CEO Léo Apotheker. Apotkeker, the former CEO of SAP (SAP), replaced former HP chief Mark Hurd after an expenses scandal this summer. TheStreet is live-blogging HP's earnings and conference call. --Written by Olivia Oran in New York.
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