HP Inc said it now expected an adjusted profit of $1.59-$1.69 per share for 2016, compared with its previous forecast $1.67-$1.77 per share.
However, Hewlett Packard Enterprise, which holds the corporate hardware and services businesses and is the faster growing of the two companies, maintained its adjusted profit forecast for the year.
Revenue in HP's personal computer and printer businesses fell about 14 percent, pushing Hewlett-Packard Co's overall revenue down for the fifth straight quarter.
"I think the results showed continued pressure on printing and PC's and better-than-expected results in enterprise," Cross Research analyst Shannon Cross told Reuters.
The results are the last for Hewlett-Packard, the tech pioneer that split into two separate companies this month, before HP Inc and Hewlett Packard Enterprise Co start to report separately.
In the company's enterprise services division, revenue fell 9 percent, while revenue from its enterprise group rose 2 percent.
Overall, Hewlett-Packard Co's revenue fell 9.5 percent to $25.71 billion in the fourth-quarter ended Oct. 31.
Net income fell to $1.32 billion from $1.33 billion a year earlier. But on a per share basis, profit rose to 73 cents per share from 70 cents, based on fewer shares outstanding.
HPE's shares were up 2.3 percent at $14. Up to Tuesday's close of $13.69, HPE shares had fallen 7 percent since their market debut on Nov. 2.
In contrast, HP Inc's shares, which closed at $14.64, had risen about 20 percent.
(Reporting by Abhirup Roy and Anya George Tharakan in Bengaluru; Editing by Anil D'Silva)
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