Strong dollar hurts HP's earnings forecast

Shares of the company, which also reported first-quarter revenue below the average analyst estimate, fell 6.5 percent in after-market trading on Tuesday.

"... we believe the impact on FY15 will be significantly greater than we anticipated in November," Chief Executive Meg Whitman said in a statement.

Palo Alto-based HP earned about two-thirds of its revenue from outside the United States in the year ended October 2014. The dollar had risen 14.7 percent in the past six months through Tuesday.

HP said it expected adjusted profit of $3.53-$3.73 per share for the full year ending October, missing analysts' average estimate of $3.95.

Revenue dropped 4.7 percent to $26.84 billion in the first quarter ended Jan. 31. Revenue from HP's enterprise services unit declined 11 percent.

The company's net income fell to $1.37 billion, or 73 cents per share, from $1.43 billion, or 74 cents per share, a year earlier.

Excluding items, the company earned 92 cents per share.

Analysts on average had expected a profit of 91 cents per share and revenue of $27.34 billion, according to Thomson Reuters I/B/E/S.

Up to Tuesday's close of $38.49, the stock had risen 9.3 percent since the company announced the split in October.

(Reporting by Abhirup Roy in Bengaluru; Editing by Sriraj Kalluvila)