+1-518-621-2074 | US-Canada Toll Free Contact Us

HP Beats Expectations in Quarterly Profits

about us

Published on : Aug 24, 2017

HP Inc., formerly known as Hewlett-Packard Co., has reported a little more than expected profits in this quarter that ended on July 31st as it sold a higher number of personal computers. The revenue from the personal systems unit of HP, which primarily sells desktops, notebooks, and workstations, increased 12% to US$8.40 bn in this quarter. The sales of notebooks rose16.4%, offsetting a decline in the sales of desktops. The company, located at Palo Alto, California, forecast its full year’s earnings per share of US$1.63 - US$1.66 when compared with the estimations of analysts, that is, US$1.64, as per a report by Thomson Reuters.

HP, which procured the printer business of Samsung Electronics Co. in September, 2017, stated on Wednesday that the revenue from its business of printers and copiers has increased 6.2% to US$4.70 bn in the aforementioned quarter. However, the net earnings from the ongoing operations dropped down to US$696 mn, which is 41 cents per share, from US$843 mn, which is 49 cents per share, precisely. The overall revenue increased 10% to US$13.1 bn, beating the average estimations of researchers, which was US$12.31 billion. Exclusive of items, the firm generated 43 cents per share. Researchers, on an average, estimated earnings of 42 cents. The shares of HP, which rose 27% since the onset of this year, dropped down marginally in the after-hours trading session on Wednesday, Aug 23, 2017.