HP Beats The Street, Q3 Revenue Up 2 Percent To $31.2B, Cuts FY11 Outlook

After confirming its intention to purchase software company Autonomy, HP released stronger than expected third fiscal quarter 2011 initial financial results, posting $31.2 billion, an increase of 2 percent from $30.7 billion one year ago. In the third quarter, preliminary GAAP diluted earnings per share (EPS) was $0.93 and non-GAAP diluted EPS was $1.10. Analysts expected EPS of $1.09 and $31.19 billion in revenue.

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