The company posted earnings of $2.3 billion, or $1.05 per share.

That’s up from $2.2 billion, or 91 cents per share, in the same time last year.

Excluding special items, HP says it earned $1.24 per share.

HP says revenue climbed to $31.6 billion, slightly above Wall Street expectations.

The company says it expects 2011 adjusted earnings of $5 per share, down from its earlier outlook of $5.20 to $5.28 per share.

Analysts had been looking for $5.24 per share.