Hewlett-Packardreported quarterly earnings thatbeat analysts' expectations but the company's revenue and outlook fell short as the company grapples with weak PC and printer sales.
Chief Executive Meg Whitman, a veteran Silicon Valley executive who took the top job last September after the firing of Leo Apotheker, has been trying to turn around HP's sprawling businesses.
In the conference call after the earnings report, Whitman said HP's costs are not in line with revenue.
"We are taking the necessary steps to improve execution, increase effectiveness and capitalize on emerging opportunities to reassert HP's technology leadership," Whitman said in the company statement.
Shares wavered in after-hours trading on Wednesday. (Click here for the latest after-hours quote.)