Summary Box: HP reports higher 3Q earnings

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THE RESULTS: Hewlett-Packard Co. says its third-quarter net income increased 9 percent to $1.93 billion. It gave a lower-than-expected outlook for the current quarter and cut its guidance for the year for the second time.

THE BACKDROP: HP’s commercial businesses remained healthy. But the company saw a 15 percent drop in its customer-facing businesses for the quarter.

RESTRUCTURING: HP plans to spin off its PC business and stop selling its TouchPad tablet and mobile phones based on webOS.