HP Inc. (HPQ - Free Report) just released its third quarter fiscal 2016 earnings results, posting earnings of 48 cents and revenue of $11.9 billion.
Currently, HPQ has a Zacks Rank #3 (Hold). HPQ was down over 4.5% to $13.75 in after-hours trading shortly after its earnings report was released.
Beat earnings estimates. The company posted diluted net earnings of 48 cents per share, surpassing the Zacks Consensus Estimate of 45 cents per share.
Beat revenue estimates. The company saw revenue figures of $11.9 billion, edging past our consensus estimate of $11.397 billion but decreasing 4% year-over-year.
Personal Systems net revenue was flat year-over-year, with a 4.4% operating margin. Total units increased 4%; notebook units were up 12% and desktop units were down 6%. Printing net revenue declined 14% year-over-year, with a 20.4% operating margin.
HP returned $269 million to its shareholders through share repurchases and dividends.
“In Q3, we delivered on our financial commitments and continued to make solid progress in executing against our core, growth and future strategic framework,” said Dion Weisler, President and CEO, HP Inc. “Although the markets remain challenged, we have the innovation and executional rigor needed to continue to take profitable share and invest in the right opportunities to drive long-term success for the company.”
Looking ahead, HP estimates Q4 non-GAAP diluted net EPS to be in the range of 34 cents to 37 cents, and for fiscal 2016, the company is forecasting non-GAAP diluted net EPS to be in the range of $1.59 to $1.62.
Here’s a graph that looks at HP’s price, consensus, and EPS surprise:
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.
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From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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HP Inc. (HPQ - Free Report) just released its third quarter fiscal 2016 earnings results, posting earnings of 48 cents and revenue of $11.9 billion.
Currently, HPQ has a Zacks Rank #3 (Hold). HPQ was down over 4.5% to $13.75 in after-hours trading shortly after its earnings report was released.
Beat earnings estimates. The company posted diluted net earnings of 48 cents per share, surpassing the Zacks Consensus Estimate of 45 cents per share.
Beat revenue estimates. The company saw revenue figures of $11.9 billion, edging past our consensus estimate of $11.397 billion but decreasing 4% year-over-year.
Personal Systems net revenue was flat year-over-year, with a 4.4% operating margin. Total units increased 4%; notebook units were up 12% and desktop units were down 6%. Printing net revenue declined 14% year-over-year, with a 20.4% operating margin.
HP returned $269 million to its shareholders through share repurchases and dividends.
“In Q3, we delivered on our financial commitments and continued to make solid progress in executing against our core, growth and future strategic framework,” said Dion Weisler, President and CEO, HP Inc. “Although the markets remain challenged, we have the innovation and executional rigor needed to continue to take profitable share and invest in the right opportunities to drive long-term success for the company.”
Looking ahead, HP estimates Q4 non-GAAP diluted net EPS to be in the range of 34 cents to 37 cents, and for fiscal 2016, the company is forecasting non-GAAP diluted net EPS to be in the range of $1.59 to $1.62.
Here’s a graph that looks at HP’s price, consensus, and EPS surprise:
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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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