U.S. Markets open in 4 hrs 1 min

HP tops Wall Street's earnings, revenue forecast

Jacob Kepler | Bloomberg | Getty Images

Hewlett-Packard (HPQ) reported quarterly earnings and revenue that beat analysts' expectations on Thursday.

After the earnings announcement, the company's shares were roughly flat. What is HP's stock doing now? (Click here to track its shares following the report.) (HPQ)

The company posted fiscal first-quarter earnings ex-items of 90 cents per share, up from 82 cents a share in the year-earlier period.

Revenue decreased slightly to $28.15 billion from around $ 28.36 billion a year ago.

Wall Street had forecast Hewlett-Packard would deliver earnings of 84 cents a share on revenue of $27.19 billion, according to a consensus estimate from Thomson Reuters.

HP continues to be plagued by issues related to its 2011 acquisition of Autonomy, whose value it wrote down after HP accused it of concealing fraudulent accounting practices.

(Read more: HP's $18 million woman: Whitman earned big pay in 2013 )

Once HP's earnings call begins, investors will be watching for updates on the Autonomy situation as well as continued signs of a turnaround for HP.