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Hewlett-Packard exceeds predictions
Last Modified: Tuesday, November 25, 2008 at 5:49 a.m.
Hewlett-Packard Co. edged past Wall Street's forecast for the latest quarter, as strong laptop sales helped offset falling printer orders and weakness in some server lines.
Profit slipped 2 percent while revenue grew 19 percent, helped by a huge acquisition. Electronic Data Systems Corp., which HP bought for $13.9 billion, added $3.9 billion in revenue.
The Palo Alto-based company reported Monday that it managed to sell $6.3 billion worth of laptops, a 21 percent increase from a year ago, at a time when customers are scaling back spending.
HP's stock fell 31 cents to $35.39 in after-hours trading. It had closed up $1.06, or 3.1 percent, at $35.70 during the regular trading session.
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