However, the manufacturer reported that revenues were down just 5% when adjusted for the effects of currency and up 12% on the previous quarter.
As a result, HP has raised its 2010 full year revenue estimate to between $118.0bn to $119.0 billion, which is up from the company's previous estimate of between $117.0bn and $118.0bn.
Mark Hurd, chairman and chief executive at HP, said: "Solid execution drove exceptional performance for HP this quarter, fuelled by significant growth in China."
He added: "We are delivering on our strategy and are well positioned going into 2010."
HP raises 2010 full-year outlook following Q4 growth
HP has revealed that revenues dropped 8% to $30.8bn (18.5bn) from the previous year in its preliminary fourth-quarter results.
