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UPDATE 1-HP quarterly revenue beats, shares jump

Tuesday, 26 Nov 2013 | 4:41 PM ET

(Adds details from release, share action)

SAN FRANCISCO, Nov 26 (Reuters) - Hewlett-Packard Co's fourth-quarter revenue beat expectations as rising sales from its key enterprise group helped offset a shrinking personal computer business, an optimistic sign that sent its shares rallying more than 7 percent.

HP posted revenue of $29.1 billion, beating the $27.9 billion expected by analysts, according to Thomson Reuters I/B/E/S.

Revenue fell across most of HP's business divisions except the enterprise group, whose sales edged up 2 percent to $7.6 billion. Sales from HP's largest, PC-focused unit slipped 2 percent to $8.58 billion while the printing division's sales dipped 1 percent to $6.04 billion.

Chief Executive Meg Whitman, who took the helm of the world's largest PC maker more than a year ago, said last month she expects revenue to stabilize in 2014, with some areas of growth for the company.

With the help of job cuts and expansion into markets and areas with longer-term potential such as enterprise computing services, the CEO is trying to reconfigure the Silicon Valley icon and return it to growth.

Shares in HP climbed to above $27 in extended trading, from a close of $25.09 on the New York Stock Exchange.

(Reporting by Poornima Gupta; Editing by Richard Chang)

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