HP nets 2 billion dollars in Q4

Hewlett-PackardWashington, Nov 26 : Hewlett-Packard has netted an income of 2 billion dollars or 70 cents per share in the fourth quarter, an earnings report released by the company said.

The company's non-GAAP earnings were 1.06 dollars per share on revenue of 28.4 billion dollars and saw a decline of 2 percent year over year, reported CNET.

The Wall Street was looking for earnings of 1.06 dollars per share on revenue of 28.76 billion dollars. Therefore, HP's shares fell slightly by 2.6 percent in after-hours trading.

The company had recorded earnings of 3.74 dollars per share and revenue of 111.6 billion dollars for fiscal 2014.

Reiterating HP's "turnaround journey," CEO Meg Whitman said that fiscal 2014 saw stabilization of revenue trajectory, strengthening of operations and financial discipline. He added that the product road maps were the best they've been in years and assured the shareholders that the software company was entering 2015 with the "strongest portfolio" in a decade.

However, he added that there is still a lot to do. (ANI)