HP beats analyst estimates

Hewlett-Packard sees profits rise, raises its full-year forecast on strong sales in emerging markets.

Strong sales in emerging markets boosted Hewlett-Packard's second-quarter earnings to $2.2 billion, or 87 cents a share, up 24 percent from a year earlier.

Revenue for the quarter rose 11 percent to $28.3 billion, the company said Tuesday.

Those figures beat analyst estimates of earnings per share of 85 cents and revenue of $28.1 billion, according to Thomson First Call.

Earnings excluding one-time items were $2.1 billion, or 80 cents a share.

HP forecast revenue for the third quarter to be about $27.3 billion to $27.4 billion and earnings per share excluding items to be 82 cents to 83 cents.

HP raised its full-year revenue forecast to between $114.2 billion and $114.4 billion, from previous guidance of $113.5 billion to $114 billion. Full-year per-share earnings excluding items are forecast to be $3.54 to $3.58.

Analysts were forecasting third-quarter earnings per share of 82 cents and revenue of $27.35 billion and full-year earnings per share of $3.53 and revenue of $114.2 billion.

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