Investing.com -- Shares in Hewlett-Packard Company (NYSE:HPQ) ticked up in after-hours, after the Northern California-based multinational information technology company posted mixed earnings with its quarterly report released on Thursday.
Hewlett-Packard earned revenues of $25.5 billion during the quarter, a 7% decline from the same period a year earlier. The Silicon Valley tech giant fell below analysts' forecasts of $25.635 billion in revenues for its second quarter that ended on April 30.
Disappointing growth by Hewlett-Packard in a majority of its segments also resulted in lower comparative earnings for the 76-year company. Hewlett-Packard reported earnings of approximately $1.0 billion or 0.55 EPS on the quarter, down from $1.3 billion or 0.66 EPS during the same period in 2014. Excluding certain items, however, Hewlett-Packard reported an 0.87 EPS, above forecasts of 0.85.
Hewlett-Packard shares dropped to a 52-week low in August, 2010, after the resignation of former CEO Mark Hurd. A month later, HP's hiring of Leo Apotheker garnered significant controversy when Oracle CEO Larry Ellison accused Apotheker of stealing software from his company during Apotheker's tenure as chairman at SAP. Apotheker lasted less than a year when he was replaced by former eBay CEO Meg Whitman in September, 2011.
Since Whitman's hiring, Hewlett-Packard shares are up by roughly 50%.
"I'm pleased with where we ended the quarter, the continued success of our turnaround, and the progress we're making on separation," Whitman said in a statement. "Despite some tough challenges, we executed well across many parts of our portfolio, sustained our commitment to innovation, and delivered the results we said we would."
Separately, the company provided an update on its plans to separate its PC and printer line from its corporate hardware division in November. Cathie Lesjak will become Chief Financial Officer of HP Inc. while Tim Stoesifer will become CFO of Hewlett-Packard Enterprise, the company said in a statement.
"HP is becoming stronger as we head into the second half of our fiscal year and separation in November," Whitman added.
Shares in Hewlett-Packard gained 0.39 or 1.15% in after-hours trading to 34.22. Earlier, HP ended the session at 33.83 after gaining 0.76 or 2.30%.