Hewlett-Packard's adjusted earnings per share were 92 cents on revenue of $30 billion in the first quarter, while Wall Street was expecting H-P to earn 87 cents on sales of $30.67 billion.
Earnings fell 32% from the same period a year ago, and revenue slipped 7%.
Hewlett-Packard Co. Stock Price History
Its financials for the November - January fiscal quarter illustrate the steep climb H-P faces to regain its profitable leading spot.
"All [its] segments are going to have headwinds," Abhey Lamba, an analyst at Mizuho Securities USA Inc., told BusinessWeek. "It's not going to be a one-year turnaround."