News

HP Q2 Earnings Rise 51 Percent, Beats Wall Street View

Hewlett-Packard has posted better-than-expected earnings of USD1.46 billion, or 51 cents a share, from USD 966 million, or 33 cents a share, a year earlier. Excluding 3 cents per share in amortization costs, HP said it had a profit of 54 cents per share, beating the average analyst estimate of 49 cents per share, according to Reuters Estimates.

Revenue rose 4.6 percent to USD 22.6 billion, matching analysts’ expectation. Mark Hurd, HP chief executive officer and president said,” We grew revenue, expanded margins and generated record cash flow. At the same time, we continued to remain focused on executing our strategy and investing in the company's long-term success."
The company said the higher profit was helped by its storage and server business and printing business.

For the upcoming third quarter, HP said it expects earnings per share before items of 45 cents to 48 cents on revenue of about USD 21.8 billion. The per-share forecast includes 3 cents in stock-based compensation expense.

Analysts are expecting the company to post a profit for 43 cents a share, including stock-based compensation expense, on revenue of USD 21.7 billion.


print	save	email	comment