Hewlett-Packard 1Q earnings, revenue top views

Print
Email
|

Associated Press

Posted on February 20, 2014 at 3:01 PM

Updated Thursday, Feb 20 at 3:02 PM

PALO ALTO, Calif. (AP) — Hewlett-Packard Co. is reporting results for its latest quarter that top Wall Street's forecasts.

Net income in the fiscal first quarter through Jan. 31 rose 16 percent to $1.43 billion, or 74 cents per share, from $1.23 billion, or 63 cents per share, a year earlier.

Excluding restructuring and other charges, adjusted earnings came to 90 cents per share. Analysts polled by FactSet expected 85 cents.

Revenue dipped 1 percent to $28.15 billion, but was flat excluding currency effects. Analysts expected $27.20 billion.

The company expects second-quarter adjusted earnings of 85 to 89 cents per share. The midpoint of that range is below the 89 cents analysts were forecasting. It expects full-year adjusted earnings of $3.60 to $3.75 per share, with the midpoint slightly above the $3.66 analysts were expecting.

Print
Email
|