360° Coverage : Hewlett-Packard 1Q earnings, revenue top views

2 Updates

Hewlett-Packard 1Q earnings, revenue top views

Feb 20 2014, 4:45pm CST | by

PALO ALTO, Calif. (AP) — Hewlett-Packard Co. on Thursday reported first-quarter earnings and revenue that topped Wall Street's forecasts, mainly on the surprising strength personal...

Filed under: news

 
 
 

27 weeks ago

Hewlett-Packard 1Q earnings, revenue top views

Feb 20 2014, 4:45pm CST | by

PALO ALTO, Calif. (AP) — Hewlett-Packard Co. on Thursday reported first-quarter earnings and revenue that topped Wall Street's forecasts, mainly on the surprising strength personal computer sales to businesses.

But the company may have benefited from a one-time bump from companies upgrading to Windows 7 and buying new machines for employees before Microsoft stops supporting Windows XP in April.

The Palo Alto, Calif., company's outlook for the second quarter was slightly below forecasts, while its full-year outlook was mostly in line.

"My concern is that they perhaps pulled forward some demand," said Bill Kreher, an analyst with financial advisory firm Edward Jones. "That is why their earnings outlook for the second quarter is not as high as perhaps some were hoping for."

Net income in the quarter through Jan. 31 rose 16 percent to $1.43 billion, or 74 cents per share, from $1.23 billion, or 63 cents per share, a year earlier.

Excluding restructuring and other charges, adjusted earnings came to 90 cents per share. Analysts polled by FactSet expected 85 cents.

Revenue dipped 1 percent to $28.15 billion, but was flat excluding currency effects. Analysts expected $27.20 billion.

Personal computer sales rose 4 percent to $8.53 billion, bucking a global decline. Research firm Gartner Inc. said last month that global PC shipments fell 7 in the final three months of 2013 as consumers bought more tablets and smartphones. International Data Corp. put the drop at 6 percent.

HP expects second-quarter adjusted earnings of 85 to 89 cents per share. The midpoint of that range is below the 89 cents analysts were forecasting. It expects full-year adjusted earnings of $3.60 to $3.75 per share, with the midpoint slightly above the $3.66 analysts were expecting.

Its shares rose 6 cents to $30.25 in after-hours trading following the release of results, after closing up 74 cents, or 2.5 percent, at $30.19 in the regular session.

Source: AP Business

 
Update
2

3 days ago

Khazanah throws MAS RM6b lifeline

Aug 29 2014 5:01pm CDT | Source: Business Times Singapore

August 30, 2014 1:15 AMKHAZANAH Nasional will inject RM6 billion (SS$2.4 billion) over three years to resuscitate loss-making Malaysia Airlines (MAS) under a recovery plan that includes even an Act of Parliament. Other key moves are migrating its operations, assets and liabilities to a new company (NewCo) and slashing ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
1

4 days ago

MAS posts loss of RM307m for Q2

Aug 28 2014 5:00pm CDT | Source: Business Times Singapore

August 29, 2014 1:13 AMMALAYSIA Airlines (MAS) registered a loss of RM307 million (S$122 million) for the second quarter to end-June, but warned of worse to come in the second half when the "full financial impact of the ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 

Don't miss ...

 

<a href="/latest_stories/all/all/31" rel="author">Associated Press</a>
The Associated Press (AP) is one of the largest and most trusted sources of independent newsgathering, supplying a steady stream of news to its members, international subscribers and commercial customers.

 

blog comments powered by Disqus

Latest stories

Nigeria to get Japanese drug for Ebola treatment
Abuja, Sep 2 (IANS) Nigeria will soon get a Japanese drug to treat Ebola, the country's Health Minister Onyebuchi Chukwu said Monday.
 
 
Japan to aid connectivity upgrade in northeast India
Tokyo, Sep 1 (IANS) India and Japan Monday decided to strengthen cooperation for improving connectivity and socio-economic development in northeastern states of India.
 
 
Three Ebola cases recorded in Nigeria oil hub
Abuja, Sep 1 (IANS) At least three cases of Ebola virus disease (EVD) have been recorded in Nigeria's oil hub of Port Harcourt, where a fatality was confirmed last week, the country's Minister of Health Onyebuchi Chukwu said here Monday.
 
 
India, Japan to elevate strategic partnership
Tokyo, Sep 1 (IANS) Prime Minister Narendra Modi Monday said relations with Japan were of the "highest priority" for his government and announced a slew of initiatives, including turning the strategic partnership into a "special" partnership and a fast-track channel for Japanese investors.
 
 
 

Latest from the Network

Kelly Brook suffered second miscarriage
London, Sep 2 (IANS) Actress-model Kelly Brook has revealed that she suffered a second miscarriage while dating Thom Evans. The 34-year-old and the former rugby star lost their first child May 6, 2011 when Brook gave...
Read more on Celebrity Balla
 
Russia may retaliate against fresh EU sanctions
Moscow, Sep 2 (IANS/EFE) Russia will take retaliatory measures to defend its legitimate interests if the European Union imposes new sanctions over Moscow's intervention in Ukraine, the country's foreign ministry said...
Read more on Politics Balla
 
Britney Spears looking forward to dating
Britney Spears is looking forward dating again. The 32-year-old singer admitted during her 'Piece of Me' show at the Planet Hollywood in Las Vegas yesterday (08.31.14) that she's excited about meeting someone new...
Read more on Celebrity Balla
 
Lindsay Lohan seeks hypnosis to quit smoking
Lindsay Lohan has reportedly been undergoing hypnotherapy to help her give up smoking. The 28-year-old actress has turned to psychotherapy in the hope of kicking her nicotine addiction before she performs in 'Speed-the...
Read more on Celebrity Balla
 
Ian Somerhalder and Nikki Reed spend $860 in sex shop
Ian Somerhalder and Nikki Reed allegedly spent nearly $1,000 in a sex shop yesterday (08.31.14). The new couple, who have been dating for the past few months, reportedly forked out $860 on a number of erotic toys -...
Read more on Celebrity Balla
 
Robin Williams' daughter returns to Twitter
Robin Williams' daughter has returned to Twitter. Zelda Williams posted her first tweet on the social networking site tonight (01.09.14) almost three weeks after she abandoned her account when she received abusive...
Read more on Celebrity Balla
 
Is Miley Cyrus dating Douglas Booth?
Los Angeles, Sep 2 (IANS) Pop star Miley Cyrus and British actor Douglas Booth are reportedly dating. The "Wrecking Ball" hitmaker was first rumoured to be romancing Booth in 2010 when they co-starred in teen drama "...
Read more on Celebrity Balla
 
UN chief alarmed by Israeli claim on West Bank land
United Nations, Sep 2 (IANS) UN Secretary-General Ban Ki-moon Monday expressed alarm at the Israeli declaration of a 400 hectares area in the West bank as "state land". "The secretary-general is alarmed by yesterday's...
Read more on Politics Balla
 
Three executed in Yemen for having US links
Aden, Sep 2 (IANS) Three people have been executed by militants in Yemen Monday for having links with the United States, a military source said. "Suspected Yemen-based Al Qaida operatives kidnapped three local...
Read more on Politics Balla
 
Lena Dunham condemns naked photo leak
Los Angeles, Sep 2 (IANS) Actress-writer Lena Dunham has condemned a mystery hacker who leaked nude photographs of celebrities, including actress Jennifer Lawrence. Lawrence hit headlines Sunday when intimate snaps of...
Read more on Celebrity Balla