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. Last Updated: 07/27/2016

Hewlett-Packard Hit

SAN FRANCISCO () -- Hewlett-Packard Co. has reported a 26 percent drop in third-quarter profits, reflecting a larger-than-expected slowdown in order growth and a one-time charge to exit the computer disk drive business.

The maker of computers, printers and related equipment said Thursday it earned $425 million, or 40 cents a share, in the three months ended July 31, compared with $576 million, or 55 cents a year ago. Sales rose 18 percent to $9.1 billion from $7.7 billion a year earlier.

Dell Computer Corp., meanwhile, said Tuesday its second-quarter profit jumped 58 percent as it continued to grow substantially faster than the overall personal computer industry.