Hewlett-Packard reports profits above expectations

Shares in H-P rose 10% in extended trading as it reported a $390m, or 13 cents a share net profit for its fourth fiscal quarter. This compares with a $505m loss in the same period a year ago, if one counts results from Compay, which Hewlett-Packard acquired in May.

The earnings in the quarter to October, excluding exceptional charges, came to 24 cents per share. Analysts had expected Hewlett-Packard to earn 22 cents a share.