HP: Fiscal 3Q Earnings Snapshot
Aug. 23, 2018
PALO ALTO, Calif. (AP) _ HP Inc. (HPQ) on Thursday reported fiscal third-quarter profit of $880 million.
The Palo Alto, California-based company said it had profit of 54 cents per share. Earnings, adjusted for one-time gains and costs, were 52 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.
The personal computer and printer maker posted revenue of $14.59 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $14.11 billion.
For the current quarter ending in October, HP expects its per-share earnings to range from 52 cents to 55 cents.
The company expects full-year earnings in the range of $2 to $2.03 per share.
HP shares have risen 17 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed nearly 7 percent.