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HP Posts Revenue Beat In Q2 Earnings Report

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HP, Inc. (HPQ - Free Report) just released its latest quarterly financial results, posting earnings of $0.48 per share and revenues of $14 billion.

Currently HP is a Zacks Rank #3 (Hold), but that could change based on today’s results. Shares of the company dropped about 2.8% during regular trading hours today, ending at a 2% increase over the course of the past month.

The stock has risen 0.5% to $21.30 per share in after-hours trading shortly after its earnings report was released.

HP:

Matched earnings estimates. The company posted earnings of $0.48 per share, matching the Zacks Consensus Estimate of $0.48 per share. Investors should note that this consensus projection remained unchanged over the duration of the quarter.

Beat revenue estimates. The company saw revenue figures of $14 billion beating the Zacks Consensus Estimate of $13.6 billion.

Personal Systems net revenue increased 14% year over year and Printing net revenue increased 11% year over year. The biggest spike in revenue occurred in Commercial Hardware units, where the company saw an 88% increase in the same time frame.

“We delivered another quarter of double digit year over year revenue and profit growth, strong EPS and impressive free cash flow and performed well across segments and regions…Our sharp focus on innovation, combined with operational excellence and driving profitable growth is paying off,” said CEO Dion Weisler.

HP’s outlook for the fiscal 2018 third quarter calls for non-GAAP diluted net EPS to fall in the range of $0.49 to $0.52 per share. It also increased its full-year non-GAAP diluted net EPS guidance to a range of $1.97 to $2.02.

Here’s a graph that looks at HP’s recent earnings performance:

HP is a multinational information technology company that focuses on its portfolio of printers, PC’s, mobile devices, solutions, and services.

Check back later for our full analysis on HP’s earnings report!

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