HP earnings tumble in third quarter

Hewlett-Packard's (HPQ) earnings dropped 19 percent in its fiscal third quarter as demand for personal computers and printer ink dried up compared to a year ago, the company reported Tuesday.

In the three months that ended July 31, HP earned $1.6 billion, or 67 cents a share, compared to $2 billion, or 80 cents a share, in the year-ago quarter.

Excluding extraordinary items, the tech giant earned $2.2 billion, or 91 cents a share. Analysts had expected HP to earn 90 cents a share, based on consensus estimates compiled by Zacks.com.