Electronic Data Systems Corp.

Hewlett-Packard Co. edged past Wall Street's forecast for the latest quarter, showing some resilience in troubled times, as strong laptop sales helped offset falling printer orders and weakness in some server lines.

HP's CEO Mark Hurd, who has won over Wall Street by aggressively slashing HP's expenses, said the economy is getting "tougher and less predictable." He vowed that HP would emerge stronger because of the company's extensive and ongoing cost-cutting moves.

Profit slipped 2 percent, while revenue grew 19 percent, helped by a huge acquisition.

Hewlett-Packard Co. surprised Wall Street on Tuesday by saying its earnings will be slightly above analysts' expectations, going against the grain as other technology bellwethers have slashed forecasts and posted weak results in the sagging economy.

Its shares climbed more than 12 percent in morning trading.

Hewlett-Packard Co. cashed in on rising international demand again in its second quarter, but that performance may not be enough to ease worries about the company's exposure to the ailing U.S. economy as it prepares to digest the second largest acquisition in its 69-year history.

The results released Tuesday came as no surprise because HP provided a snapshot of its latest quarterly numbers and outlook last week when the Palo Alto-based company jolted investors with the news about its plans to buy technology services provider Electronic Data Systems Corp. for $13.2 billion (EU8.4 billion).