The company reported net income of $1.2 billion or $0.63 per share, versus $1.5 billion or $0.73 per share, in last year's corresponding quarter.
On an adjusted basis, H-P reported net income of $1.6 billion or $0.82 per share, versus $1.8 billion or $0.92 per share, in last year's first-quarter. This compared to Wall Street analysts' consensus EPS estimates of $0.71.
Sales for the period were down 6 percent to $28.36 billion from $30.04 billion last year. This beat analysts' consensus estimates of $27.79 billion.
Looking ahead, the company said that it expects Q2 adjusted earnings per share of $0.80 to $0.82. For the full-year HP guided for EPS of $2.30 to $2.50, up from its previous guidance of $2.10 to $2.30. The company continues to expect adjusted EPS of $3.40 to $3.60 for the full-year.
Currently, Wall Street analysts have second quarter and full-year consensus EPS estimates of $0.77 and $3.32, respectively.
CEO Meg Whitman will appear on CNBC tomorrow at 9am to discuss the company's results.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Copyright Benzinga. All rights reserved.


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