February 22, 2013 – Hewlett-Packard Co., the largest personal-computer maker, forecast fiscal second-quarter profit that exceeded analysts’ estimates, helped by cost-cutting measures and a smaller-than-projected drop in service sales.

HP is using job cuts to bolster profit as demand for printers and personal computers slumps and companies curtail purchases of higher-margin hardware and software. Chief Executive Officer Meg Whitman said she feels “pretty good” about fiscal 2013 and reaffirmed a prediction that the company will resume growth next year, evidence of progress on a five- year turnaround plan even as competitive pressures linger.

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