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HP: Fiscal 1Q Earnings Snapshot

February 24, 2020 GMT

PALO ALTO, Calif. (AP) _ HP Inc. (HPQ) on Monday reported fiscal first-quarter net income of $678 million.

On a per-share basis, the Palo Alto, California-based company said it had profit of 46 cents. Earnings, adjusted for one-time gains and costs, were 65 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.

The personal computer and printer maker posted revenue of $14.62 billion in the period.

For the current quarter ending in May, HP expects its per-share earnings to range from 49 cents to 53 cents.

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The company expects full-year earnings in the range of $2.33 to $2.43 per share.

HP shares have climbed slightly more than 8% since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HPQ at https://www.zacks.com/ap/HPQ