HP Inc. (HPQ) announced its second-quarter earnings, which, although lower than the previous year, surpassed Wall Street expectations.
The company reported net earnings of $0.6 billion, or $0.61 per share, compared to $1.1 billion, or $1.06 per share, in the same quarter last year.
On an adjusted basis, excluding special items, HP Inc. recorded earnings of $0.8 billion, or $0.82 per share, for the second quarter.
According to data compiled by Thomson Reuters, analysts had predicted an average adjusted earnings of $0.81 per share, excluding special items.
The company's quarterly revenue saw a slight decline of 0.8%, decreasing to $12.8 billion from $12.9 billion in the previous year.
**HP Inc. Second Quarter Earnings Summary (GAAP):**
- Earnings (Q2): $0.6 billion vs. $1.1 billion last year
- EPS (Q2): $0.61 vs. $1.06 last year
- Revenue (Q2): $12.8 billion vs. $12.9 billion last year
**Guidance:**
- Next quarter EPS guidance: $0.78 to $0.92
- Full year EPS guidance: $3.30 to $3.60
