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Shares of Hewlett-Packard (HPQ) are up nicely in after hours trading this afternoon following a better than expected report for the company's fiscal first quarter.Going into this afternoon's earnings report Wall Street was expecting to see the company show earnings of $1.06 a share. The actual figure came in above analyst estimates at $1.10 a share.
During the same period last year the company had earnings of 93 cents per share.
Revenues were also better than expected with a a reported $31.2 billion verse analyst forecasts for $30.01 billion.
In addition to strong numbers for its first quarter, HPQ also raised its 2010 outlook due to "accelerating market momentum." Looking towards full year 2010 revenues, the company forecast a range of $121.5 billion to $122.5 billion, topping the $120 billion analysts were expecting.
Following the earnings report the stock has traded up 1.5% in after hours trading.
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