UPDATE 3-HP results top Street despite stronger dollar

by Robert MacMillan and Eric Auchard

SAN FRANCISCO, Aug 19 (Reuters) – Hewlett-Packard Co (HPQ.N: Quote, Profile, Research, Stock Buzz) results beat Wall Street targets, overcoming fears that slowing global economies and a stronger dollar would substantially weaken the world’s biggest computer and printer maker.

Shares rose 3.2 percent in after-hours trading on Tuesday after HP posted solid fiscal third-quarter international sales and said it expects fourth-quarter earnings also ahead of expectations.

“What we’re seeing here is that despite the concerns we had coming into the third quarter, they are not being overwhelmed by a currency hit yet,” said Jason Pride, director of research at Haverford Trust Co in Philadelphia. […]