SAN JOSE, Calif. - Hewlett-Packard Co.'s fiscal first-quarter profit jumped 30 percent as the printer and computer company saw cost-saving benefits from a restructuring announced last year and strong sales in notebook computers and printing supplies.

Company shares gained 3 percent on the news.

The results Wednesday beat Wall Street expectations and was the latest sign that the Silicon Valley pioneer has returned to firing on all cylinders under new Chief Executive Mark Hurd after a string of earnings disappointments under former CEO Carly Fiorina.