met Wall Street's lowered earnings expectations for the latest first quarter, but revenue came in short of the forecast.
The company earned 37 cents a share, in the range of the guidance the company gave analysts when it issued a profit warning last month. According to
First Call/Thomson Financial
, analysts on average expected the company to earn 37 cents in the period. The consensus estimate called for the company to report revenue of $12.4 billion, but H-P said its top line rose 2% to $11.9 billion.
The company earned 40 cents a share in the prior-year period, with revenue of $11.7 billion.
Like every other company in the computer hardware sector, H-P has been beaten down badly by investors in the last few months. The stock has fallen more than 40% since September, although it has regained its footing somewhat in the last month, rallying along with the rest of its competitors after the
began its aggressive easing campaign.
Shares of Hewlett-Packard were halted for late trading at $36.35.