Hewlett-Packard reported better than expected fourth quarter results and indicated that its turnaround plans are progressing.
The company reported a fourth quarter profit of $1.4 billion, or 73 cents a share, on revenue of $29.1 billion, down 3 percent from the same quarter a year ago. Non-GAAP earnings for the fourth quarter were $1.01 a share. Wall Street was looking for HP to deliver fourth quarter non-GAAP earnings of $1 a share on revenue of $27.9 billion.
As for the outlook, HP projected first quarter earnings to be 82 cents a share to 86 cents a … Read more