H-P Shares Slump Following Revenue Miss

Hewlett-Packard reported in-line earnings for the fourth quarter, but a 2% decline in revenue that fell short of expectations. Shares of H-P slumped 1.5% to $36.94 in afterhours trade Tuesday. The company posted adjusted earnings per share of $1.06, matching average analyst estimates in a FactSet poll. However, revenue came in at $28.41 billion, shy of expectations of $28.7 billion. The PC maker forecast first-quarter per-share earnings of between 89 cents and 93 cents, which is mostly below the consensus view of 93 cents. CEO Meg Whitman said the company's turnaround "continues on track." The company in October announced plans to separate into two distinct public companies, one focused on its legacy computer and printer business and the other housing its much faster growing services and enterprise unit.