Hewlett-Packard Profits Up, But Asia A Concern

Hewlett-Packard Co. on Tuesday reported its net income rose 2 per cent in the latest quarter, but the diversified computer company said it faced a difficult environment in Asia. Its quite likely we did not yet see the full impact of the situation in Asia, chief financial officer Bob Wayman told analysts in a conference call after the earnings report. We feel that were well equipped to cope, but the macro environment looks a bit unsettled in the short term. During the first quarter ended Jan. 31, the companys net earnings rose to a record $929 million, from $912 million a year ago.