HP triples stock buyback plan, profit up 14 percent

24 Nov

SAN FRANCISCO (Reuters) – Hewlett-Packard Co tripled the size of its share repurchase program to $12 billion as China sales and better profit margins on its services boosted quarterly earnings.

The fiscal fourth-quarter results released on Monday were in line with preliminary figures that HP gave two weeks ago, which had topped Wall Street’s estimates at the time. Shares of HP fell slightly in after-hours trading.