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Tech stocks: HP surges off earnings

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Shares of Hewlett-Packard have jumped more than 6% in pre-market trading following their quarterly earnings report that topped Wall Street forecasts.


The company reported $2 billion in net income for the fourth quarter, and $29.1 billion in revenue, both beating analysts' estimates. HP shipped 13.7 million PCs last quarter, a slight bump up from last year.


Personal computer like HP have faced increased pressure with the rise of tablets and smartphones. IDC says global smartphone shipments will rise 40% this year.


Follow Brett Molina on Twitter: @bam923. USA NOW Topsy turvy holiday season | USA NOW
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