part sitting next to EXPECTATIONS - SURPASS EXPECTATIONS - hehe! HWP sat in the doldrums for over 6 months until last quarter's results - you picked the wrong time to bash HWP. Have a nice day!
Monday August 16 4:42 PM ET
Hewlett-Packard Results Surpass Forecasts
PALO ALTO, Calif. (Reuters) - Computing giant Hewlett-Packard Co (NYSE:HWP - news) Monday reported a fiscal third-quarter profit that surpassed analysts forecasts and said its revenues also showed healthy growth.
The company, which is in the process of spinning of its test and measurement equipment operations into a separate company, said net earnings were $853 million in the quarter ended July 31, compared with $621 million in the year-ago quarter.
Before separation costs in the latest quarter, earnings per share on a diluted basis were 85 cents. About $60 million in costs related to the company's split reduced EPS by 4 cents to 81 cents. That compares with diluted earnings of 58 cents in the year-ago quarter.
The consensus among analysts who follow the company had been for a third-quarter profit of 80 cents per share, before the usual costs, according to First Call, which tracks analysts estimates.
The spin-off company, Agilent Technologies Inc., filed Monday for an initial public offering.
Hewlett-Packard said its third-quarter revenue increased to $12.2 billion from $11 billion the year before.
``Our focus on profitable growth has paid off nicely in profit performance,'' Chief Executive Lew Platt said in a statement. He also said the