HP: Fiscal 1Q Earnings Snapshot
PALO ALTO, Calif. (AP) _ HP Inc. (HPQ) on Thursday reported fiscal first-quarter profit of $1.07 billion.
The Palo Alto, California-based company said it had net income of 83 cents per share. Earnings, adjusted for one-time gains and costs, came to 92 cents per share.
The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.
The personal computer and printer maker posted revenue of $15.65 billion in the period.
For the current quarter ending in May, HP expects its per-share earnings to range from 84 cents to 90 cents.
The company expects full-year earnings in the range of $3.15 to $3.25 per share.
HP shares have climbed 18% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 2.5%.