Hewlett-Packard Earnings: Here’s Why Investors are Giddy Now
Hewlett-Packard Company (NYSE:HPQ) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 6.02%.
Hewlett-Packard Company Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 10.87% to $0.82 in the quarter versus EPS of $0.92 in the year-earlier quarter.
Revenue: Decreased 5.58% to $28.36 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Hewlett-Packard Company reported adjusted EPS income of $0.82 per share. By that measure, the company beat the mean analyst estimate of $0.71. It beat the average revenue estimate of $27.79 billion.
Quoting Management: “We beat our non-GAAP diluted EPS outlook for the quarter by $0.11 per share, driven by improved execution, improvement in our channel and go-to-market efforts and the impact of the restructuring program we announced in May 2012,” said Meg Whitman, HP president and chief executive officer. “While there’s still a lot of work to do to generate the kind of growth we want to see, our turnaround is starting to gain traction as a result of the actions we took in 2012 to lay the foundation for HP’s future.”
Key Stats (on next page)…