HP earnings (NYSE:HPQ) came in ahead of what analysts were calling for in the revenue front, helping HPQ as the company’s stock is surging late in the day Thursday thanks to a positive quarter.
The Palo Alto, Calif.-based company said that for its fourth quarter of the current fiscal year, it brought in net income of $1.5 billion, or 91 cents per share. The figure came in at 54 cents per share on an adjusted basis, which was in line with the Wall Street consensus estimate of 54 cents per share.
HP added that its revenue for its fourth quarter of fiscal 2018 tallied up to $15.4 billion, beating the $15.1 billion that analysts were calling for. The figure was also stronger than the company’s revenue from its fourth quarter of fiscal 2017 by 10%.
For the full fiscal year, HP brought in earnings of $5.3 billion, or $3.25 per share, while its revenue tallied up to $58.5 billion, gaining 12% compared to the year-ago quarter. The company also amassed free cash flow of $4.2 billion for the full fiscal year.
For the fourth quarter, its personal systems revenue increased by 11%, while its printing revenue surged 9% year-over-year. HP added that its hardware units experienced an 11% surge in revenue as well.
HPQ stock is up about 1.3% after the bell on Thursday as the company reported its latest quarterly earnings results, which included a strong showing from the revenue front. The company’s shares had been sliding nearly 2.4% during regular trading hours in anticipation of its results.
