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Hewlett-Packard Prints a Good Number

The computer giant's second-quarter earnings come in at 88 cents a diluted share, well above estimates.



posted second-quarter earnings of $918 million, or 88 cents a diluted share, handily beating the

First Call

consensus estimate of 80 cents a share.

H-P's earnings showed a 34% increase over the year-earlier period, when the Palo Alto, Calif., computer hardware concern earned $685 million, or 65 cents a share. Revenue climbed 3% to $12.4 billion from $12 billion a year ago.

After severely disappointing hopeful analysts last

spring, H-P could with its latest quarter reinvigorate sell-siders' enthusiasm. The stock -- which has been zigzagging for two years -- is up 9% in the last week, closing Monday at 87 1/2.

An in-depth look at H-P's results will follow this evening after the company's conference call.