HP: Fiscal 2Q Earnings Snapshot
PALO ALTO, Calif. (AP) _ HP Inc. (HPQ) on Wednesday reported fiscal second-quarter net income of $764 million.
The Palo Alto, California-based company said it had profit of 53 cents per share. Earnings, adjusted for non-recurring gains, were 51 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.
The personal computer and printer maker posted revenue of $12.47 billion in the period.
For the current quarter ending in August, HP expects its per-share earnings to range from 39 cents to 45 cents.
HP shares have decreased 17% since the beginning of the year, while the Standard & Poor’s 500 index has fallen 6%.