NEW YORK (
was a big loser in pre-market trading on Thursday as investors balked at the tech giant's
, released after market close on Wednesday.
The Palo Alto, Calif.-based company brought in sales of $29.7 billion, down from $31.2 billion in the prior year's quarter, and below analysts' forecast of $30.1 billion.
Declining PC and printing sales, in particular, weighed heavily on the company's top line. Revenue from HP's Personal Systems Group (PSG) declined 10% in the third quarter, while Imaging and Printing Group (IPG) revenue was down 3%.
Excluding items, HP earned $1 a share, in line with its pre-announcement earlier this month, but down from $1.10 a share a year earlier.
HP also lowered its guidance. For fiscal 2012, the company now expects earnings of $4.05 to $4.07 a share, at the low end of its previously provided outlook.
Shares of HP, which closed down 3.66% on Wednesday, tumbled 5.21% to $18.22 in pre-market trading.
, which introduced a
on Wednesday, was a big winner, rising 6.78% to $9.29.
Consulting and outsourcing giant
was another gainer, climbing 1.86% to $44.31 before market open. Earlier this week a U.S. court
filed against Infosys by an employee.
, which hit a new all-time high earlier this week, slipped 0.07% to $668.37 before market open. The iPhone maker was also one of the most active pre-market Nasdaq stocks on share volume of 124,117.
, which reports its second-quarter results after market close, was down 0.22% to $148.22.
Written by James Rogers in New York.
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