Hewlett-Packard and Lamar Shares in Red After Earnings Reports
Hewlett Packard Co. (NYSE:HPQ) reported its results for the first quarter. Net income for the diversified computer systems company fell to $1.47 billion (73 cents per share) vs. $2.6 billion ($1.17 per share) a year earlier. This is a decline of 43.6% from the year-earlier quarter. Revenue fell 7% to $30.04 billion from the year-earlier quarter. Hewlett Packard Co. reported adjusted net income of 92 cents per share. By that measure, the company beat the mean estimate of 87 cents per share. It fell short of the average revenue estimate of $30.72 billion.
“In the first quarter, we delivered on our Q1 outlook and remained focused on the fundamentals to drive long-term sustainable returns,” said Meg Whitman, HP president and chief executive officer. “We are taking the necessary steps to improve execution, increase effectiveness and capitalize on emerging opportunities to reassert HP’s technology leadership.”
Competitors to Watch: Dell Inc. (NASDAQ:DELL), Apple Inc. (NASDAQ:AAPL), Oracle Corporation (NASDAQ:ORCL), Microsoft Corporation (NASDAQ:MSFT), Cisco Systems, Inc. (NASDAQ:CSCO), Intl. Business Machines Corp. (NYSE:IBM), EMC Corporation (NYSE:EMC), Super Micro Computer, Inc. (NASDAQ:SMCI), RadiSys Corporation (NASDAQ:RSYS), and Silicon Graphics Intl. Corp (NASDAQ:SGI).
Lamar Advertising Company (NASDAQ:LAMR) reported its results for the fourth quarter. Reported a profit of $6.4 million (7 cents per diluted share) in the quarter. Lamar Advertising Company had a net loss of $7.1 million or a loss 8 cents per share in the year-earlier quarter. Revenue rose 4.5% to $288.2 million from the year-earlier quarter. Lamar Advertising Company was above expectations as the mean analyst estimate was breaking even. Analysts were expecting revenue of $284.2 million.
Competitors to Watch: Clear Channel Outdoor Hldgs., Inc. (NYSE:CCO), AirMedia Group Inc. (NASDAQ:AMCN), Focus Media Holding Ltd. (NASDAQ:FMCN), National CineMedia, Inc. (NASDAQ:NCMI), Omnicom Group Inc. (NYSE:OMC), Interpublic Group of Companies, Inc. (NYSE:IPG), VisionChina Media Inc (NASDAQ:VISN), ValueClick, Inc. (NASDAQ:VCLK), Inuvo, Inc. (AMEX:INUV), and interCLICK Inc (NASDAQ:ICLK).
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