Hewlett-Packard Q4 earnings beat Wall Street expectation

Washington – American IT giant Hewlett-Packard (HP) has reported slightly better profits in its fourth-quarter beating Wall Street expectations.

HP reported fourth-quarter net income of 2 billion dollars on 29.1 billion dollars in sales, against the Street’s forecast of 1.94 billion dollars on 27.9 billion dollars, the Wall Street Journal reports.

The computing giant was expected to earn 1 dollar per share, but it reported 1.01 dollars per share.

HP managed the declines by hitting its established lines of business, like PCs and printing, and at the same time seeking to start up new lines, like its Moonshot server business, the report added.

According to the report, HP ended the 2013 fiscal year with 112.3 billion dollars in sales, down from 120.4 billion dollars in 2012.