Hewlett-Packard Co. reported a 4.7 percent drop in quarterly revenue, hurt mainly by weak demand from corporate customers for its services.

The company's net income fell to $1.37 billion, or 73 cents per share, in the first quarter ended Jan. 31, from $1.43 billion, or 74 cents per share, a year earlier.

Revenue dropped to $26.84 billion from $28.15 billion.

HP said in October it would split into two listed companies in 2015, separating its computer and printer businesses from its corporate hardware and services operations.