HP Inc. HPQ just released its second-quarter 2017 financial results, posting earnings of $0.40 per share and revenues of $12.39 billion. Currently, HP is a Zacks Rank #3 (Hold), but this ranking could change based on today’s results. The stock is up 3.52% to $19.68 per share in after-hours trading shortly after its earnings report was released.
HP beat earnings estimates. The company posted earnings of $0.40 per share (excluding $0.07 from non-recurring items), beating the Zacks Consensus Estimate of $0.39 per share.
HP beat revenue estimates. The company saw revenue figures of $12.39 billion, topping our consensus estimate of $11.94 billion.
HP’s second-quarter net revenue was up 7% year-over-year. However, HP’s net earnings from continuing operations fell to $559 million from $660 million last quarter. HP returned $447 million to shareholders in the form of share repurchases and dividends.
The technology company’s “Personal Systems” net revenues jumped 10% sequentially. HP’s quarterly“Printing” revenues were up 2% year-over-year.
The company projects full-year fiscal 2017 GAAP diluted net EPS from continuing operations in the range of $1.42 to $1.52 per share.
“This was a breakthrough quarter for HP, and marks the first time both Personal Systems and Print have grown in the same quarter since 2010,” HP President and CEO Dion Weisler said in a statement.
“We’re delivering solid performance across our portfolio, in all regions, and on key financial metrics. Our team is taking profitable share, out-executing our competitors and delivering some of the best innovation in HP’s history. It’s clear our reinvention is paying off.”
Here’s a graph that looks at HP’s Price, Consensus and EPS Surprise history:
HP Inc. Price, Consensus and EPS Surprise
HP Inc. Price, Consensus and EPS Surprise | HP Inc. Quote
HP Inc. is the surviving entity following the November 2015 split of Hewlett-Packard Company into publicly traded entities - Hewlett Packard Enterprise Company and HP Inc. The company's focus will be on the PC and printing products and services. HP Inc. is headquartered in Palo Alto, California.
Check back later for our full analysis on HP’s earnings report.
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