Hewlett-Packard yesterday posted a 9 per cent rise in quarterly profit as the second largest computer maker cut jobs and saw higher revenues across all its businesses.
Shares rose nearly 4 per cent in after-hours trading after the results met Wall Street expectations.
Chief Executive Mark Hurd, who took the helm in April after the February ouster of Carly Fiorina, signaled that further job cuts are likely.
Nearly 2,000 have been cut in the printer division, where profit fell on related charges and pricing competition.
HP net income rose to $966 million, or 33 cents a share, for its fiscal second quarter ended April 30th, from $884 million, or 29 cents a share, a year ago. Revenue rose 7.2 percent to $21.6 billion from $20.1 billion.
Excluding items, HP posted a profit of 37 cents a share, a penny ahead of the average estimate, and revenue also slightly topped expectations, according to Reuters Estimates.