The other chunk, Hewlett Packard Enterprise Co., on Tuesday said it would merge most of its technology services operations with those of Computer Sciences Corp.--an $8.5 billion transaction that highlights the continuing turmoil in the corporate computing market as businesses rein in spending and traditional data centers give way to cloud computing.
For HP, consumers and businesses shifts to mobile devices and away from printers and personal computers has made for tough selling conditions.
On Wednesday, HP Inc. Chief Executive Dion Weisler acknowledged that the demand environment for both PCs and printers is weak, but said the company continues to target niches where sales are growing and HP can boost its market share.
One example of recent efforts: HP has been focused on grabbing a bigger piece of the premium laptop market, one that has been healthier than some other segments of the shrinking PC industry.
Analysts projected 38 cents in adjusted earnings per share on $11.72 billion in revenue, according to Thomson Reuters.
For the current quarter, the company expects to post 37 cents to 40 cents in adjusted earnings per share.