PALO ALTO, Calif. (TheStreet) -- It's been a busy day for HP (HPQ), which on top of pre-announcing a slim earnings beat shortly before market close, also said it would spin off its well-known PC business amid weak consumer demand.
The company beat profit expectations by a penny, reporting adjusted earnings per share of $1.10 cents on sales of $31.2 billion for its fiscal third quarter. Analysts were expecting adjusted EPS of $1.09 on sales of $31.17 billion.
HP also confirmed that it would ditch its webOS mobile device hardware, although it will keep the webOS software it bought through its Palm acquistion last year. That effectively takes HP out of the tablet and smartphone markets, although in a prepared statement, the tech giant said it will continue to "explore options" to optimize the value of webOS software going forward.Click above to via a recap of TheStreet's HP earnings blog. Shares of HP, following the broader market drop, dipped about 6% to close at $29.51; they were falling $2.84, or 9.62%, in the after-hours session. --Blog written by James Rogers and Scott Moritz in New York. >To follow the writers on Twitter, go to http://twitter.com/TheStreet_Tech. >To submit a news tip, send an email to: firstname.lastname@example.org
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $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
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV