Weak PC demand dents HP profits

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The ongoing weak demand for personal computers and printer ink has seen Hewlett-Packard (HP) report a 19% fall in quarterly profit.

The world's top PC marker said that net profit totalled $1.64bn (£1bn) in the three months ended 31 July, down from $2.03bn in the same quarter a year ago.

It also warned that sales for 2009 were likely to be down by between 4% and 5%.

Like other technology firms, HP has suffered in the global downturn as consumers trim their spending.

Revenue fell by 2% to $27.5bn - slightly better than Wall Street estimates.