Hewlett-Packard reports 32 percent in quarterly profits
May 23 , 2013
Hewlett-Packard posted a 32 percent drop in quarterly profits on Wednesday.
Profits were down to $11 billion, the seventh straight quarterly fall in sales.
In recent years, HP has struggled to boost PC sales as customers switch to smartphones and tablet computers.
As a result, the firm has set out to cut costs by slashing 27,000 jobs by May 2014.
Shares in the world's largest personal computer maker did rise in after-hours trading on the back of a higher forecast for full-year profits.