HP Inc (HPQ) Shares Slide Despite In-Line Profit

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HP Inc (NYSE:HPQ) unveiled its latest quarterly earnings results on Wednesday, coming in close to expectations.

HP Inc (HPQ)The company unveiled a profit of $660 million, or 39 cents per share for its fourth quarter of fiscal 2017. The figure topped the year-ago earnings of $492 million, or 28 cents per share.

On an adjusted basis, HP brought in 44 cents per share, which was in line with the earnings of 44 cents per share that analysts polled by Thomson Reuters expected.

From the revenue front, the company was successful as it raked in $13.9 billion, an 11% surge compared to the year-ago mark. Wall Street was projecting revenue of $13.35 billion.

“Our results demonstrate that HP is strong and getting stronger,” CEO Dion Weisler said in prepared remarks. HP added that revenue from personal systems such as notebooks and desktops was better by 13% year-over-year, while printing, including supplies and hardware, hiked up 7%.

The information technology company finished the year strong, bringing in $2.5 billion in earnings, or $1.48 per share compared to the year-ago mark of $2.7 billion, or $1.53 per share.

Revenue was also stronger by 8% to $52.1 billion, while adjusted earnings per share were $1.65, rising 3%. Analysts were calling for adjusted earnings of $1.65 per share and revenue of $51.39 billion.

For its first quarter of fiscal 2018, 2018 sees earnings to be in the range of 38 cents and 42 cents per share. For the full year, it predicts that earnings will be between $1.70 and $1.80 per share.

HPQ stock fell 5.9% on Wednesday.


Article printed from InvestorPlace Media, https://investorplace.com/2017/11/hp-inc-hpq-2/.

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