Hewlett-Packard Co reported in-line results but issued a more pessimistic fiscal year revenue forecast, sending its shares down nearly 4 percent after hours.

The world's top personal computer maker on Tuesday reported a net profit of $1.7 billion, or 70 cents a share, in the fiscal second quarter ended April 30, down from $2.1 billion, or 80 cents a share, in the year-ago period.

Excluding certain restructuring and acquisition-related items, HP posted a profit of 86 cents a share, matching analysts' average forecast according to Reuters Estimates.

Revenue slipped 3 percent to $27.4 billion, a whisker off Wall Street's forecast of $27.5 billion.

For the current quarter, HP forecast earnings excluding items of 88 cents to 90 cents a share, with revenue flat to down 2 percent sequentially.

Wall Street is forecasting a profit of 89 cents a share on revenue of $27.5 billion.

For fiscal 2009, the company still expects an adjusted profit of $3.76 to $3.88 a share, but now expects revenue to fall 4 to 5 percent. It had previously forecast revenue to fall 2 to 5 percent.

Shares of Palo Alto, California-based HP fell nearly 4 percent to $35.17 from a close of $36.58 on the New York Stock Exchange.

(Reporting by Gabriel Madway; Editing by Richard Chang)

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