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Shares of HP Inc (NYSE:HPQ) are down Wednesday after the company reported its second-quarter earnings results.
What To Know: HP posted second-quarter EPS of 80 cents Tuesday after the bell, beating estimates of 76 cents. However, sales came in at $12.91 billion, missing estimates of $13.07 billion, according to Benzinga Pro.
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Following the print, BofA Securities analyst Wamsi Mohan maintained HP with an Underperform rating and raised the price target from $26 to $27. UBS analyst David Vogt maintained HP with a Neutral rating and raised the price target from $30 to $31.
Despite the mixed results, HP president and CEO Enrique Lores highlighted the adversity the company overcame by saying, "Our disciplined execution and strong innovation in a tough macro environment allowed us to deliver non-GAAP EPS at the high-end of our target in Q2. We are well-positioned to win in our markets and drive long-term sustainable growth as we make continued progress against our Future Ready plan."
Related Link: US Dollar Rises To 10-Week Peak With Debt Ceiling Breakthrough, Rate Hike Buzz: Crucial House Vote Wednesday
HPQ Price Action: Shares of HPQ were down 4.01% at $29.69 at the time of publication, according to Benzinga Pro.
Image by StartupStockPhotos from Pixabay
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.