HP's quarterly profit of $1.47 billion fell 44% Year-on-year

February 23, according to foreign media reports, Hewlett-Packard in Wednesday released the 2012 fiscal year as of January 31, the first quarter earnings. Earnings showed HP's profit of 1.47 billion U.S. dollars, 73 cents per share, down 44%. HP's profits for the same period last year were 2.61 billion dollars, with 1.17 dollars per share. After deducting restructuring fees and other effects, HP's earnings per share fell to 92 cents in the first quarter from $1.36 a year earlier.

HP forecast last November that profits for the first quarter were 83 to 86 cents per share, lower than analysts had expected.

HP's first-quarter revenue was 30.04 billion dollars, down 7% from the analyst's forecast of $30.67 billion.

HP's operating margins in the first quarter fell to 6.8% from 10.5% in the same period last year.

HP's service sector's revenue grew 1.1% in the first quarter. Revenue for HP's server, storage and network sectors fell 10%. As shipments dropped 18%, HP's core PC business unit's revenue fell 15%. Laptop sales fell 15%, and desktop computer sales fell 18%. Sales of HP's printer department fell 7%.

HP forecasts that earnings per share after the current second-quarter adjustment will reach 88 to 91 cents, below analysts ' expectations. Analysts estimate that HP's earnings for the second quarter were 95 cents per share, according to Thomson Reuters.

HP's shares fell 2.1% per cent after trading and traded at $28.34, as HP's first-quarter revenue did not meet analysts ' expectations and released a forecast for second-quarter earnings below analysts ' expectations.

(Responsible editor: The good of the Legacy)