The following appears on marketwatch.com

SAN FRANCISCO (MarketWatch) — Hewlett-Packard will report Tuesday on what’s now widely known to have been a sluggish quarter for corporate IT demand as the tech giant wraps up what’s been a bumpy fiscal year.

H-P HPQ -0.08%  will post fiscal fourth-quarter results after the market closes on Nov. 26, with analysts expecting yet another decline in profit and sales, as the Palo Alto, Calif.-company wrestles with what executives say is a multi-year turnaround process.

Analysts polled by FactSet on average expect H-P to report a profit of $1 a share on revenue of $27.86 billion. For the year-earlier period, the company posted a profit of $1.16 a share on revenue of $29.96 billion.

H-P did get investors excited during its analyst day last month with a slightly better-than-expected profit outlook for fiscal year 2014, saying it expects revenue to “stabilize” and sees “pockets of growth.”

But then other tech giants, led by IBM Corp. IBM -0.53%   and Cisco SystemsCSCO -0.49%  , put out downbeat quarterly reports, confirming fears of a wobbly corporate IT market, including in key markets such as China.

The reports suggested bad news for H-P, which is already reeling from a collapsing PC market and is known to be banking on robust corporate IT demand as part of its turnaround strategy.

H-P shares have risen about 12% since the company’s analyst day in October, but the stock have shed about 5% since Cisco spooked the market two weeks ago with a soft outlook that signalled even more weakness in the corporate IT market.

“We expect H-P to highlight a soft IT spending environment,” Cantor Fitzgerald analyst Brian White told clients in a note on Monday. “However, we are already modeling below average seasonality for its fiscal year fourth quarter. As such, we are not anticipating a major miss on this report. … However, we remain skeptical on the sustainability of H-P’s turnaround.”

On the other hand, Raymond James analyst Brian Alexander said H-P could post better-than-expected results, telling clients in a note last week that, “With most large cap technology peers missing and/or guiding down, we think the stock could rally further.”

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