News

Hewlett-Packard Profit Rises on Cost-Cutting, Higher Revenue

HP bests Wall Street estimate of 49 cents per share by a nickel.

(San Francisco) Hewlett-Packard Co.'s fiscal second-quarter profit rose 51 percent Tuesday as the printer and computer company benefited from cost cutting, stronger PC demand and a 5 percent jump in revenue.

For the three months ended April 30, HP earned $1.46 billion, or 51 cents a share, compared with $966 million, or 33 cents per share, in the same quarter last year. Sales rose to $22.6 billion from $21.6 billion in the second quarter of last year.

Excluding $97 million in amortization and other one-time expenses, HP earned $1.6 billion, or 54 cents per share.

On that basis, which does not comply with generally accepted accounting principles, HP beat Wall Street's expectations. Analysts were expecting the company to earn 49 cents a share on sales of $22.6 billion, according to a Thomson Financial survey.

HP shares rose 5 percent on the news. Earlier, they lost 52 cents to close at $31.11 on the New York Stock Exchange.

Featured

  • Microsoft Changes Privacy Platform Name to SmartNoise

    Microsoft Research has changed the name of its "differential privacy" platform from "WhiteNoise" to "SmartNoise," according to a Wednesday announcement.

  • Why Restarting a Failed SCVMM Job Might Be a Bad Idea

    Occasionally, restarting a failed System Center Virtual Machine Manager job can leave your virtualization infrastructure in an unknown state. Here's how to avoid that.

  • Microsoft Starts Delivery of Latest Windows 10 Feature Update to Surface Hub 2S Devices

    Microsoft last week announced that users of Surface Hub 2S videoconference screens soon will be getting the latest Windows 10 feature update.

  • Microsoft Joins MEF To Bolster Azure for Operators Services

    Microsoft has joined the MEF, a nonprofit industry association that aims to standardize various software-defined networking (SDN) technologies used by service providers and enterprises.

comments powered by Disqus