HP posts $1.4B fiscal 4Q profit

Staff Writer
Columbus CEO

NEW YORK (AP) — Hewlett-Packard Co. posted net income of $1.4 billion for its fiscal fourth-quarter, helped by cost cuts related to its ongoing restructuring.

HP's profit amounted to 73 cents per share and compared with a loss of $6.9 billion, or $3.49 per share, in the same period a year ago. Excluding one-time charges, the company earned $1.01 per share for the recent period.

Revenue fell 3 percent to $29.1 billion.

Analysts polled by FactSet expected a profit of $1 per share on $27.86 billion in revenue.

For the current quarter, the company predicts an adjusted profit of between 82 cents and 86 cents per share. For fiscal 2014 it expects earnings of $3.55 to $3.75 per share.

Analysts expect first-quarter earnings of 85 cents per share and a fiscal-year profit of $3.64 per share.