San Francisco - Shares in technology giant Hewlett-Packard Co rallied by as much as 15 per cent early Tuesday after the company reported that preliminary earnings would beat Wall Street's expectations.
HP said it expects to post a profit of 84 cents a share, on revenue of 33.6 billion dollars for its recently completed fourth- quarter, beating last year's figures of 81 cents a share on revenue of 28.3 billion dollars. Excluding one-time charges and items, HP said it earned 1.03 dollars a share, beating the forecasted earnings of 1 dollar a share.
The results represented a rare positive development for the embattled tech sector and helped lift HP shares by 4.16 dollars to 33.50 dollars in early trading.
