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Hewlett-Packard Co.'s first-quarter earnings declined 16% as the technology giant continued to see weaker sales in its core personal computer business, though adjusted profits beat the company's expectations.
In a dramatic reshuffling, Hewlett-Packard Co. said it will end its tablet computer and smartphone products and may sell or spin off its PC division, bowing out of the consumer businesses.
The company revised its forecast for the current quarter, indicating worries about the impact of the Japan earthquake, softness in sales of PCs and lower operating profits in its services unit.