HP Earnings: Live Blog
PALO ALTO, Calif. (TheStreet) -- Hewlett-Packard (HPQ) posted better-than-expected fourth-quarter earnings Monday and said revenue increased slightly.
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.
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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
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and conference call.
--Written by Olivia Oran in New York.
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