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HP: Fiscal 3Q Earnings Snapshot

August 27, 2020 GMT

PALO ALTO, Calif. (AP) _ HP Inc. (HPQ) on Thursday reported fiscal third-quarter earnings of $734 million.

The Palo Alto, California-based company said it had net income of 52 cents per share. Earnings, adjusted for one-time gains and costs, came to 49 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.

The personal computer and printer maker posted revenue of $14.29 billion in the period.

For the current quarter ending in October, HP expects its per-share earnings to range from 50 cents to 54 cents.

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The company expects full-year earnings in the range of $2.16 to $2.20 per share.

HP shares have decreased 9% since the beginning of the year, while the Standard & Poor’s 500 index has risen roughly 8%.

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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