HP, CEO, Enrique Lores
Scott Murin | CNBC
HP shares rose 9% in an extended deal on Tuesday after PC makers reported higher-than-expected fourth-quarter earnings and provided optimistic earnings forecasts.
- Revenue: According to Refinitiv, analysts predicted 52 cents per share, compared to 62 cents per share adjusted.
- Revenue: According to Refinitiv, it’s $ 15.3 billion, compared to the $ 14.7 billion analysts expected.
Revenues declined on an annualized basis for the fourth straight quarter. According to the statement, it fell by about 1% in the quarter ending October 31st.
HP forecasts adjusted earnings per share for the first quarter to go from 64 cents to 70 cents, which is above Refinitiv’s consensus of 54 cents.
Personal Systems, the company’s largest business segment, including PC notebooks and desktops, posted flat year-on-year revenues of $ 10.4 billion, with analysts’ consensus surveyed by FactSet below $ 10.5 billion. Within that unit, notebook sales increased 18% to $ 7.41 billion, but the overall segment was down due to a decline in desktops and workstations.
At a meeting with analysts, HP more than doubled the sales and revenue of Chromebook PCs running Google’s Chrome OS operating system, said Mary Myers, HP’s Deputy Chief Financial Officer and Chief Financial Officer. Says. She replaced Steve Fieler, who left in the quarter to join Google.
Also on Tuesday, PC maker Dell reported its third-quarter results, stating that sales of consumer devices, including PCs, increased 14% year-on-year in the quarter ending October 30.
HP continues to address component shortages and expects the company to tend to limit growth in the first half of fiscal year 2021, CEO Enrique Lores said on the phone.
Excluding the off-hours surge, HP’s share has risen 6% since the beginning of the year, while S & P 500 has risen about 13% over the same period.
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HP (HPQ) Revenue Q4 2020
Source link HP (HPQ) Revenue Q4 2020