HP trims reported 1st-quarter net income because of lawsuit costs

HP trims 1Q net income because of lawsuit costs

PALO ALTO, Calif. — Hewlett-Packard says it is trimming the net income it reported for its fiscal first quarter because of higher legal costs.

HP, the world’s biggest computer maker, now says it earned $2.25 billion, or 93 cents per share, in the three months ended in January. That’s down from the $2.32 billion, or 96 cents per share, it reported last month.

The company says it had to cut its reported net income because it decided to set aside more cash to pay for costs in a lawsuit filed by the U.K. broadcaster BSkyB against subsidiary Electronic Data Systems.