HP Topped on Fourth-Quarter Revenue

mm

HP Inc (NYSE: HPQ), the personal computer and printer maker, announced its financial results for the fourth quarter after the bell. Earnings of the company matched estimates and revenue beat expectation.

“Our results demonstrate that HP is strong and getting stronger,” Dion Weisler, the President and CEO of HP, said in the announcement on Tuesday. “We posted top-line growth across both Personal Systems and Print, with broad-based, double-digit growth in all three regions, while also growing operating profit and non-GAAP EPS year-over-year.”

According to the company, net revenue for the fourth quarter increased 11% from the number in the same period last year to $13.9 billion, beating estimates of $13.25 billion. Revenue of personal systems, including desktops and notebooks, rose 13% in the fourth quarter. In addition, printing revenue was also up 7%.

Earnings for the fourth quarter was reported to be $660 million, or $0.39 per share. Adjusted earnings per share was $0.44, which matched analysts’ estimates.

The company provided guidance for the first quarter of 2018 in the statement. GAAP diluted net EPS from continuing operations was expected to be in the range of $0.38 to $0.42 per share.

After the announcement, shares of the company dropped 5% in after-hours trading on Tuesday.

Leave a Comment