HP Inc. recently announced an increase in profitability for its first quarter, in line with Wall Street estimates. The corporation's profits amounted to $622 million, equivalent to $0.62 per share, showing growth when compared to the $469 million or $0.47 per share that was reported in the first quarter of the previous year.
After adjusting for certain items, HP Inc. stated that the earnings for the period were $808 million or $0.81 per share. These figures align with the expectations of market analysts, who predicted that the company would achieve earnings of $0.81 per share. It's crucial to mention that analyst estimations usually disregard unique or special items.
However, the company's quarterly revenue experienced a decline of 4.4%, dropping from $13.80 billion last year to $13.19 billion.
A synopsis of the earnings reported by HP Inc. (in accordance with GAAP) is as follows:
- Earnings for Q1 increased from $469 million last year to $622 million
- Earnings per share (EPS) for Q1 increased from $0.47 last year to $0.62
- Analysts' EPS estimate was $0.81
- Revenue for Q1 fell from $13.80 billion last year to $13.19 billion this year.
Looking ahead, the company predicts EPS for the next quarter to be within the range of $0.76 to $0.86, and the full-year EPS is projected to be between $3.25 to $3.65.
