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HP Likely Buoyed By PC Recovery

World's No. 1 personal computer and printer maker buoyed by recovering PC market in latest quarter but worries persist about health of some of its other businesses.

SAN FRANCISCO (AP) -- Hewlett-Packard Co., the world's No. 1 personal computer and printer maker, was likely buoyed by a recovering PC market in the latest quarter but worries persist about the health of some of its other businesses.

The company announced preliminary fourth-quarter results earlier this month that topped Wall Street's forecasts. Net income rose to 99 cents per share, compared with 84 cents in the year-ago period, while revenue fell 8 percent to $30.8 billion. HP also raised its guidance.

Investors will look at the final results, being reported after the market closes Monday to see where the higher profit came from.

The PC market appears to be strengthening on demand from low-cost laptops, but HP's printer and ink division -- a cash cow -- has seen its revenue decline in each of the last four quarters. HP's technology services division, which competes with IBM Corp., is now the company's biggest revenue and profit generator.

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