HP (HPQ) Reports Stellar Earnings In Q2, Raises FY18 View
Zacks Investment Research | May 29, 2018 09:32PM ET
HP Inc. (NYSE:HPQ) delivered another quarter of stellar performance wherein its revenues for the second quarter of fiscal 2018 surpassed the Zacks Consensus Estimate, while earnings matched the same. Moreover, the company’s revenues increased for the seventh consecutive quarter, out of which the last six recorded double-digit growth after a prolonged period of decline. Also, the Personal Systems and Print segments’ performance improved for the fifth straight quarter, after 2010.
In fact, the company’s outstanding results for the last few quarters substantiate that the spin-off from Hewlett Packard Enterprise Company (NYSE:HPE) , along with its diligent restructuring initiatives, is finally paying off.
HP’s total revenues climbed 13% year over year to $14 billion and outpaced the Zacks Consensus Estimate of $13.6 billion. The better-than-expected top-line performance was driven mainly by strength in the Personal System and Printing segments, as well as successful product roll outs.
The company’s bottom-line results were also impressive, wherein its non-GAAP earnings from continuing operations of 48 cents per share came in line with the Zacks Consensus Estimate, and came toward the higher-end of management’s guided range of 45-49 cents. On a year-over-year basis, non-GAAP earnings improved 20%. The robust bottom-line performance was mainly backed by higher revenues and lower share counts.
HP Inc. Price, Consensus and EPS Surprise
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