HP beats the Street in Q2; confirms plans to cut 27,000 jobs as Q3 guidance misses

. Hewlett-Packard on Wednesday reported its second-quarter earnings that beat Wall Street's expectations. Analysts expected the computer giant to report revenue of $29.92 billion and earnings of $0.91 per share, but the company surprised analysts when it reported earnings of $0.98 per share on sales of $30.69 billion. HP also confirmed new restructuring plans that will involve 27,000 job cuts, or 8% of the company's workforce, and it expects to save more than $3 billion as a result.

Boy Genius Report, HP beats the Street in Q2; confirms plans to cut 27,000 jobs as Q3 guidance misses