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.
>To follow the writer on Twitter, go to http://twitter.com/ozoran. >To submit a news tip, send an email to: email@example.com.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV