HP Inc. (HPQ - Free Report) just released its third quarter fiscal 2017 earnings results, posting earnings of $0.43 per share and revenue of $13.1 billion. Currently, HP has a Zacks Rank #3 (Hold), and it is down 1.38% to $18.60 in after-hours trading shortly after its earnings report was released.
Beat earnings estimates.The company posted adjusted earnings of $0.43 per share, just beating our Zacks Consensus Estimate of $0.42. HP earnings decreased 10.42% year-over-year.
Beat revenue estimates.The company saw revenue figures of $13.1 billion, beating our estimate of $12.08 billion. Revenue increased year-over-year by 10% from $11.89 billion.
HP’s revenue was driven by growth in personal systems and print. Personal systems revenue increased 12% year-over-year while printing revenue increased 6% year-over-year.
Looking ahead the company expects to see earnings in the range of $0.42 and $0.45 per share for the fourth quarter. HP also expects full year earnings to be between $1.63 and $1.66 per share.
“Q3 was another outstanding quarter of successfully executing our reinvention strategy, said President and CEO Dion Weisler. “We stabilized supplies revenue a quarter earlier than expected, posted double-digit revenue growth, delivered non-GAAP earnings per share at the high end of our previously provided outlook and generated approximately $1.7 billion in free cash flow.”
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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