Hewlett-Packard Co. (HPQ) reaffirmed its outlook for the first quarter of 2010 and boosted full-year views, while reporting a 14% jump in fourth-quarter profit as a result in improved revenues in the company’s services business. Services revenue rose 8% to $8.9 billion in the quarter.

The tech, software and solutions company said it expects 2010 first-quarter profit to range between 90 and 92 cents a share, with non-GAAP earnings of $1.03 to $1.05 a share on revenue between $29.6 and $29.9 billion. Analysts were expecting first-quarter 2010 non-GAAP earnings of $1.04 a share on revenue of $29.6 billion, according to Thomson Reuters.

For the full-year, H-P raised its forecast to 2010 profit between $3.65 and $3.75 a share, compared to previous estimates between $3.60 and $3.70 a share. Non-GAAP earnings are expected to range between $4.25 and $4.35 a share, compared to earlier forecasts between $4.20 and $4.30 a share. The company said revenue in fiscal 2010 will come in between $118 and $119 billion, compared to its previous forecast of revenue between $117 billion and $118 billion. Analysts are expecting the company to see full-year 2010 adjusted earnings of $4.32 a share on revenue of $118.9 billion.

Forecasts do not include the impact of the company’s recently-announced acquisition of networking-equipment company 3Com Corp. (COMS)

In the fourth quarter of fiscal 2009, the company saw profit of $2.4 billion or 99 cents per share, compared to earnings of $2.1 billion or 84 cents per share in the year-ago quarter. Non-GAAP earnings rose to $1.14 a share, compared to earnings of $1.03 a share a year ago. Analysts were expecting the company to report adjusted earnings of $1.13 a share.

Revenue fell 8% during the quarter to $30.8 billion, compared to revenue of $33.6 billion.

"Relentless focus on driving efficiencies across the business has given HP a significant competitive advantage," said Cathie Lesjak, executive vice president and chief financial officer, HP, in a statement. "Our skill in executing strong acquisitions and integrating them seamlessly improves the value of our portfolio, strengthens the business and contributes to our ability to expand in key growth markets in the future."

Shares of H-P rose 98 cents or 1.96% in Monday’s session to close at $51.02 a share. The stock was down slightly in after-hours trading, falling 29 cents or 0.57%.