Hewlett-Packard reported better-than-expected fiscal first-quarter earnings, but sales fell short of expectations. HP, however, cut its outlook for the second quarter as the company’s personal systems group was whacked.
The company reported first-quarter earnings of $1.5 billion, or 73 cents a share, on revenue of $30 billion, down 7 percent from a year ago. Non-GAAP earnings were 92 cents a share. Wall Street was expecting HP to report first-quarter earnings of 87 cents a share on revenue of $30.67 billion.
In a statement, HP CEO Meg Whitman said that the company is “taking the necessary steps to … Read more