“The swing in the revenue outlook is particularly glaring and suggests that, clearly, their business has slowed materially over the last two months,” said Calyon Securities analyst Shebly Seyrafi.

The company earned $1.9 billion in profit on $28.8 billion in sales for the last quarter — which ended on January 31 — though revenue increased only 1 percent compared to the same time in 2008.  HP’s sales of PCs, printers, ink and servers also declined, with several other HP businesses expected to be hurt in the future.

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