Whitman told analysts she still believes the Autonomy acquisition was smart.
The company earned $1.6 billion, or 80 cent per share, in the February-April quarter. That represented a 31 percent decline from $2.3 billion, or $1.05 per share, at the same time last year.
If not for several items unrelated to HP's ongoing business, the company said it would have earned 98 cents per share. That figure topped the average estimate of 91 cents per share among analysts surveyed by FactSet.
Revenue fell 3 percent from last year to $30.7 billion. That was about $800 million above analyst projections.
To pay for severance and other restructuring costs, HP expects to take a pre-tax charge of about $1.7 billion in the current fiscal year, which ends in October. About $1 billon of those charges will come in the current quarter ending in July. HP expects to take charges of an additional $1.8 billion through fiscal 2014.
The company also expects to register a charge of $1.2 billion to account for the declining value of the Compaq computer brand. HP bought Compaq a decade ago in a deal that many shareholders, including the son of a company founder William Hewlett, tried to block.
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