Hewlett-Packard Earnings Jump 15%

Hewlett-Packard Co., the nation’s second-largest computer company, reported Tuesday that quarterly profits rose a better-than-expected 15 percent amid increased demand for some computers and cost cuts.

The Palo Alto, Calif.-based company said it earned a record $912 million, or 87 cents per share, in the fiscal first quarter ended Jan. 31. That was up from profits of $790 million, or 75 cents per share, in the year-ago quarter.

The profits handily beat the 76 cents per share predicted by analysts.