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Hewlett-Packard cuts outlook for year

Hewlett-Packard cuts outlook for year

Hewlett-Packard is cutting its full-year outlook due to soft PC sales and the effects of the earthquake in Japan, while second-quarter net income rose slightly.
Shares fell 4 percent before the market opened Tuesday.
The company posted earnings of $2.3 billion, or $1.05 per share. That's up from $2.2 billion, or 91 cents per share, in the same time last year. Excluding special items, HP says it earned $1.24 per share.
HP says revenue climbed to $31.6 billion, slightly above Wall Street expectations.
The company says it expects 2011 adjusted earnings of $5 per share, down from its earlier outlook of $5.20 to $5.28 per share. Analysts had been looking for $5.24 per share.


Updated : 2020-12-02 15:53 GMT+08:00