H-P profit falls, but results beat Street

SAN FRANCISCO (MarketWatch)
Hewlett-Packard on Wednesday reported a fiscal second quarter profit of $1.6 billion, or 80 cents a share, compared with a profit of $2.3 billion, or $1.05 a share, for the year-earlier period
Revenue was $30.7 billion, down from $31.6 billion
Adjusted profit was 98 cents a share
Analysts were expecting the Palo Alto, Calif.-based company to report earnings of 91 cents a share, on revenue of $29.9 billion, according to a consensus survey by FactSet Research
For the current quarter, the company said it expects adjusted profit of 94 cents to 97 cents a share Analysts were expecting $1.02 a share, according to FactSet Research