H-P earnings beat forecasts despite 16% drop in profit.

H-P's (HPQ) shares jumped 4.9% premarket after the company's FQ1 earnings beat consensus and it provided guidance that was above expectations. However, net profit fell 16% to $1.23B as EPS came in at $0.82 and revenue slid 6% to $28.36B. Sales fell across H-P's operations, including PCs, printers, consumer and enterprise hardware, and high-end servers. On the earnings call, CEO Meg Whitman insisted that there are no plans to break the company up.