Hewlett-Packard Barely Moves After Q4 Earnings Beat
Hewlett-Packard (NYSE: HPQ) is up less than one percent in after hours trading after the company announced its fourth quarter results.
The tech giant reported a Q4 EPS of $0.90 versus the Street estimate of $0.84.
Earnings per share were up 10 percent from the year-ago period.
Revenue arrived at $28.2 billion versus the Street estimate of $27.17 billion. Sales were down one percent year-over-year.
"HP is in a stronger position today than we've been in quite some time," Meg Whitman, Hewlett-Packard president and CEO, said in a company release. "The progress we're making is reflected in growth across several parts of our portfolio, the growing strength of our balance sheet, and the strong support we're receiving from customers and channel partners. Innovation is igniting our comeback, and at a time when many of our competitors are confronting new challenges, two years of turnaround work is setting us up for an exciting future."
Hewlett-Packard expects to report a Q2 EPs between $0.85 and $0.89 versus the Street estimate of $0.89
The company also raised its FY2014 EPS Guidance from $3.55 - $3.75 to $3.60 - $3.75 versus the Street estimate of $3.66.
Disclosure: At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.
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