Hewlett-Packard Beats by a Penny, Warns of Currency Headwinds

Shares of Hewlett-Packard Co. (HPQ) may be on the move in Wednesday's trading session.
Author:
Publish date:

Shares of Hewlett-Packard Co. (HPQ) may be on the move in Wednesday's trading session. In its latest quarter, the company posted a better than expected fiscal first quarter earnings, but revenue came up short of Wall Street expectations. CEO Meg Whitman says HP’s turnaround remains on track, and will accelerate in 2015. The company is taking a $1.3 billion separation charge as it splits into two separately listed firms. Looking ahead, the company forecasts disappointing second quarter profits as it battles against the impact of a stronger dollar. Also, the company agreed to a multi-billion dollar deal with Deutsche Bank (DB) in which the investment firm will outsource a big part of its wholesale banking IT unit. As part of the 10-year agreement, HP will provide computing capacity and data storage to host the bank's operations. TheStreet's Kurumi Fukushima reports in New York.