Looking ahead, the company said it was looking for adjusted third-quarter earnings between 37 cents and 40 cents per share. Wall Street had on average expected about 40 cents, according to Reuters.
HP also lowered the upper end of its full-year guidance: It said that it expected adjusted fiscal year earnings between $1.59 and $1.65 per share — it had previously said it was looking for $1.69 on the high side of its expectations.
Still, Wall Street had only on average expected full-year earnings of $1.59 per share, according to Reuters.
"This quarter we delivered strong results and solid progress towards our long term strategy," Dion Weisler, HP's president and CEO, said in a news release. "We achieved our operational objectives, unleashed truly amazing innovations, and grew in strategic areas of our business, despite tough market conditions. I'm confident in our ability to execute and remain committed to our plan for growth."
Within its individual segments, HP reported that its personal systems net revenue fell about 10 percent year-over-year to $6.99 billion. Wall Street had expected that segment to see $7.06 billion, according to StreetAccount. That discrepancy was attributable to desktop revenue of $2.4 billion compared to an expected $2.52 billion.
Still, HP said it outperformed the personal systems market to gain an overall 19.4 percent share. Within the commercial space, HP said it had achieved an all-time-high market-share of 24.6 percent.
For its printing business, HP said it saw $4.64 billion in net revenue. That compares to $4.74 billion anticipated by Wall Street, according to StreetAccount.
Revenues for every individual component of HP's personal systems and printing businesses — from notebooks and workstations to printing supplies and consumer hardware — fell on a year-over-year basis.
"I will not be completely satisfied with the company performance until we return to sustained growth," Weisler said on the company's earnings webcast.