Hewlett-Packard’s Quarterly Profit Falls 13% Damn Hommie Back N high School You were the Man Hommie!

As the world’s largest technology company with a diverse product line sold around the world, H.P. is viewed as a barometer for the overall health of the technology industry.

H.P., based in Palo Alto, Calif., posted a profit of $1.9 billion, or 75 cents a share, a 13 percent decline from the $2.1 billion reported in the same period last year. Excluding one-time charges, the company matched the 93 cents a share average earnings forecast from Thomson Reuters.

“H.P. is a market leader executing well in a tough market,” Mark V. Hurd, the chairman and chief executive, said in a statement.

Revenue for the period increased 1 percent to $28.8 billion, from $28.5 billion in the year-earlier period. Analysts expected Hewlett to post revenue of $31.9 billion for the period.

H.P.’s results reflect some of the issues plaguing the parts of the technology sector most affected by the recession. Sales of personal computers, for example, fell 19 percent to $8.8 billion.