Shares Of Hewlett-Packard Trade Lower Following 2Q14 Results

Hewlett-Packard HPQ on Thursday reported second quarter 2014 results for the period ending April 30, 2014.

Summary of 2Q14 Results

The company reported Q2 non-GAAP diluted net EPS of $0.88, up one percent from the second quarter last year. Q2 EPS beat management's outlook of $0.85- $0.88 per share.

• Net revenue came in at $27.3 billion, down one percent from 2Q13.
• Hewlett-Packard reported the quarter's cash flow from operations of $3.0 billion.
• The company improved operating net cash by $1.0 billion, for the ninth consecutive quarter of at least $1 billion of improvement.
• Hewlett-Packard returned $1.1 billion to shareholders in dividends and share repurchases.

Guidance

Management sees Q3 EPS of $0.86 $0.90 versus the consensus estimate of $0.89.

• Full-Year 2014 guidance was narrowed from $3.60- $3.75 to $3.63- $3.75, versus consensus estimate of $3.71.

Stock Action

Shares of Hewlett-Packard fell 5.2 percent from $33.00 to $31.37 at 3:30 a.m. (ET) prior to earnings results. The stock regained some losses before closing at $31.78 on Thursday. In after-hour trading, shares are currently trading at $31.12.