H-P Up In Pre-Market On Strong Earnings (HPQ)

Shares of Hewlett-Packard Company HPQ are up more than 2% in pre-market after the Palo Alto-based company reported better than expected earnings and slightly raised its guidance. HP reported it earned $1.33 per share, 6 cents better than estimates. Revenue for the quarter was $33.28 billion, an 8 percent increase over last year. Wall Street expected $32.75 billion. The company also raised guidance, saying it sees earnings of $5.16 to $5.26 per share for fiscal year 2011. The company previously forecast $5.05 to $5.15 per share. At last check, shares of HPQ were up 95 cents to $44.20, a gain of 2.2%.