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HP: Fiscal 3Q Earnings Snapshot

August 22, 2019

PALO ALTO, Calif. (AP) _ HP Inc. (HPQ) on Thursday reported fiscal third-quarter net income of $1.18 billion.

The Palo Alto, California-based company said it had profit of 78 cents per share. Earnings, adjusted for one-time gains and costs, came to 58 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.

The personal computer and printer maker posted revenue of $14.6 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $14.5 billion.

For the current quarter ending in October, HP expects its per-share earnings to range from 55 cents to 59 cents.

The company expects full-year earnings in the range of $2.18 to $2.22 per share.

HP shares have dropped slightly more than 7% since the beginning of the year, while the Standard & Poor’s 500 index has risen 17%.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HPQ at https://www.zacks.com/ap/HPQ

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