Hewlett-Packard Co. reported fiscal first-quarter sales and profit that topped analysts’ estimates as the personal-computer maker won new orders for servers to run data centers.
Profit excluding certain costs in the quarter was 90 cents a share on revenue of $28.2 billion, the Palo Alto, Calif.-based company said Thursday.
Analysts had on average predicted profit of 84 cents and revenue of $27.2 billion, according to data compiled by Bloomberg.
Chief Executive Officer Meg Whitman is trying to reshape the 75-year-old company, which is headed for a third straight annual sales decline as the personal-computer market shrinks.
Hewlett-Packard shares rose as high as $31 in extended trading after the announcement. They earlier gained 2.5 percent to close at $30.19.
Business, Pages 33 on 02/21/2014