Tickers, Articles & Keywords: Hewlett-Packard Jumps After Q1 Results, Guidance
By Scott Rubin | February 22, 2013 9:23 AM EST
Struggling PC-maker Hewlett-Packard (NYSE: HPQ [FREE Stock Trend Analysis]) released its fiscal first-quarter earnings results after the closing bell on Thursday. In the wake of the report, the stock rallied around 6 percent in the after-hours session.
The company reported net income of $1.2 billion or $0.63 per share, versus $1.5 billion or $0.73 per share, in last year's corresponding quarter.
On an adjusted basis, H-P reported net income of $1.6 billion or $0.82 per share, versus $1.8 billion or $0.92 per share, in last year's first-quarter. This compared to Wall Street analysts' consensus EPS estimates of $0.71.
Sales for the period were down 6 percent to $28.36 billion from $30.04 billion last year. This beat analysts' consensus estimates of $27.79 billion.
Looking ahead, the company said that it expects Q2 adjusted earnings per share of $0.80 to $0.82. For the full-year HP guided for EPS of $2.30 to $2.50, up from its previous guidance of $2.10 to $2.30. The company continues to expect adjusted EPS of $3.40 to $3.60 for the full-year.
Currently, Wall Street analysts have second quarter and full-year consensus EPS estimates of $0.77 and $3.32, respectively.
CEO Meg Whitman will appear on CNBC tomorrow at 9am to discuss the company's results.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Copyright Benzinga. All rights reserved.
To contact the editor, e-mail:
Most Popular Slideshows
- ‘Sons of Anarchy’ Season 7 Finale Spoilers: Kurt Sutter On Ending The Biker Series And Picking The Right Song For The Final Ride
- Prince Charles’ Wife Camilla Parker-Bowles In Drug Scandal - Reports
- Prince Harry Kissing Mystery Blond, Cressida Bonas & Camilla Thurlow Are Distant Memory
- St. Louis Rams 28, Seattle Seahawks 26 [PHOTOS]
Join the Conversation
- New Zealand Economy Benefits From Australia's Big Investments; Kiwi Down After RNBZ Comments
- ETF Outlook for Thursday, January 2 (FEZ, FXI, SPY, XHB)
- January Second Trading: Always Interesting
- 13 Things Investors Learned In 2013 - Part II
- Are Diversity and Quality the Way to Profit from the Rebound in Gold and Coal?
- Galaxy Note 4 vs Redmi Note 2 vs iPhone 6: Samsung in Danger with Depressing Q3
- iOS 8 Jailbreak Release Date Likely this October 2014 with Pangu not Evad3rs Firming Up as Creator
- Apple Inc. (AAPL) Stock Set to Soar Beyond $100 Despite Decline After New iPad Launch
- Russia Beefs Up Gold Reserves To Offset Heat of Sanctions And Undercut Dollar
- Top 4 Free-To-Download Apps for Fuller iPhone 6, 6 Plus Experience
- Battery Saving Android 5.0 Lollipop Feature Extends The Battery Life Of Your Android Device By 90 Minutes And Displays Orange Bar While Power Saving Mode Is On
- Australia's 'No Way' Anti-Asylum Seeker Poster Sparks Outrage