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.


  • Windows 10 Mobile To Fall Out of Support in December

    Microsoft will end support for the Windows 10 Mobile operating system on Dec. 10, 2019, according to an announcement.

  • Get More Out of Your Outlook Inbox with TakeNote

    Brien comes across a handy, but imperfect, feature in Outlook that lets you annotate specific e-mails. Its provenance is something of a mystery, though.

  • Microsoft Resumes Rerelease of Windows 10 Version 1809

    Microsoft on Wednesday once more resumed its general rollout of the Windows 10 version 1809 upgrade, also known as the "October 2018 Update."

  • Microsoft Ups Its Windows 10 App Compatibility Assurances

    Microsoft gave assurances this week that organizations adopting Windows 10 likely won't face application compatibility issues.

comments powered by Disqus
Most   Popular

Office 365 Watch

Sign up for our newsletter.

Terms and Privacy Policy consent

I agree to this site's Privacy Policy.