HP Inc (NYSE:HPQ) reported its latest quarterly earnings results after the bell Tuesday, which were better than analysts were calling for in the revenue and earnings front
The printer and personal computing business announced revenue of $14 billion, which marked an increase of 13% compared to the year-ago quarter. Analysts were calling for revenue of $13.57 billion for HP’s second quarter of fiscal 2018, according to data compiled by Thomson Reuters.
The company also unveiled net earnings of $1.1 billion, or 64 cents per share, an 89% gain compared to the year-ago quarter. On an adjusted basis, net earnings were $800 million, or 46 cents per share, a 16% gain improvement year-over-year.
Wall Street was projecting adjusted earnings of $753.5 million, or 45 cents per share, according to Thomson Reuters. HP’s revenue from its personal computing systems improved by 14% compared to the year-ago quarter, its notebook and desktop computers segments each gained 7% year-over-year and net revenue from its printing division improved 11% year-over-year.
“We delivered another quarter of double digit year over year revenue and profit growth, strong EPS and impressive free cash flow and performed well across segments and regions. Our sharp focus on innovation, combined with operational excellence and driving profitable growth is paying off,” CEO and President Dion Weisler said.
For its fiscal 2018, HP now sees earnings as being in the range of $2.75 to $2.82 per share, which is higher than its previous forecast for net earnings in the rang of $2.53 to $2.63 per share.
HPQ stock fell gained 0.5% after the bell on the earnings beat, despite the stock falling 2.8% during regular trading hours.
