Hewlett-Packard Warns, This Time Blaming Asia and Latin America

Updated from 11:54 a.m. ET

Weak demand in Asia and Latin America is weighing on Hewlett-Packard's (HWP Quote) fiscal third quarter, the company said Wednesday at its semiannual analyst meeting.

CEO Carly Fiorina opened the meeting by warning analysts that weakness in the U.S. and European markets has extended to Korea, China and Latin America. May sales were soft in both consumer and corporate markets in all regions, making H-P "more cautious" about its third-quarter revenue projection, Fiorina said.

But the executive also said that cost controls will "increase the probability" that Hewlett will meet EPS estimates, which the company pegged at 23 cents for the fiscal third quarter, which ends in July. Analysts polled by Thomson Financial/First Call expect the company to earn 22 cents a share on revenue of $11.5 billion. ...