HPQ Earnings: Stock Dips Despite Q3 Earnings, Revenue Beat

Advertisement

HP (NYSE:HPQ) reported its latest quarterly earnings results late in the day Thursday, which saw the company top analysts’ earnings and revenue expectations, but shares fell after hours.

HP

The company said that for its third quarter of the fiscal year 2018, it brought in net income of $900 million, amounting to roughly 54 cents per share. The figure was a considerable improvement over its year-ago net income of $700 million, or 41 cents per share.

On an adjusted basis when excluding certain items, HP’s earnings came in at $800 million, or 52 cents per share. Wall Street was calling for the company to bring in adjusted earnings of 51 cents per share, according to data compiled on a Thomson Reuters survey.

The company’s revenue for its third quarter of fiscal 2018 tallied up to $14.6 billion, marking an 11.5% boost compared to the $13.1 billion from the year-ago period. The Wall Street consensus estimate was forecasting HP to rake in revenue of $14.11 billion for the period, according to three analysts surveyed by Zacks Investment Research.

For its fourth quarter of fiscal 2018, the company is calling for adjusted earnings in the range of 52 cents to 55 cents per share. HP also sees its fiscal 2018 earnings as being between $2 to and $2.03 per share.

HPQ stock fell about 2% after the bell despite the company’s strong quarterly earnings showing. Shares were up about 0.5% during regular trading hours on Thursday in anticipation of its report.


Article printed from InvestorPlace Media, https://investorplace.com/2018/08/hpq-hp/.

©2024 InvestorPlace Media, LLC