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To: Joseph G. who wrote (3974)	8/17/1998 5:08:00 PM
From: yard_man	Read Replies (1) \| Respond to of 86076

Didn't look at them yet. Here, this guy is really upbeat, isn't he? Hewlett-Packard posts better-than-expected profit PALO ALTO, Calif., Aug 17 (Reuters) - Hewlett-Packard Co.(HWP - news), the world's second-largest computer company behind IBM, on Monday reported fiscal third-quarter earnings that were little changed from a year earlier but exceeded most analyst forecasts. The company said it earned $621 million, or 58 cents per diluted share, in the three months to July 31, compared with $617 million, or 58 cents, in the year-ago quarter, when it had fewer shares outstanding. Analysts had expected earnings of about 54 cents per share, according to a consensus published by First Call. Third-quarter revenue rose to $11 billion from $10.5 billion. Although there was some improvement in the latest quarter, the company said it was dissatisfied with its performance. H-P has struggled for much of this year in a difficult business climate marked by the economic crisis in Asia and a price war in personal computers. H-P Chairman Lewis Platt said in a statement the third-quarter results were ''substantially below the goals we had entering the quarter.'' Platt said the company made progress during the quarter in cutting expenses and would ''take further actions to build on this.'' However, he also said the company saw no signs of an immediate turnaround in Asia, and found the business climate in the United States and Latin America uncertain.