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HP Inc (NYSE: HPQ) released its Q3 results after market close on Wednesday. Earnings per share came in above Wall Street consensus expectations.
HP Inc reported EPS of $0.48 and revenues of $11.9 billion. Analyst consensus had an EPS estimate of $0.44 and revenues of $11.47 billion.
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HP Inc saw Q4 EPS at $0.34-$0.37 vs. estimates of $0.41 and FY16 EPS of $1.59-$1.62 vs. estimates of $1.62. Prior FY16 management forecasts were between $1.59-$1.65.
"Although the markets remain challenged, we have the innovation and executional rigor needed to continue to take profitable share and invest in the right opportunities to drive long-term success for the company," stated Dion Weislerr, President and CEO.
3D Printing Sector Stalling?
Piper Jaffray's Troy Jenson believed smaller 3D printing companies such as 3D Systems Corporation (NYSE: DDD) have been witnessing a slowdown in printing demand due to HP's new Fusion Jet extensive competition.
Although HP Inc didn't report specific 3D printing numbers in its Q3 report, total printing net revenue was down 14 percent year-over-year with a 20.4 percent operating margin.
At time of writing, HP Inc traded at $13.75 in Wednesday's after-hours session, down 4.5 percent.
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.