U.S. Markets close in 3 hrs 39 mins

HP Shares Gain After Q2 Earnings Beat, Full Year Guidance Bump

Martin Baccardax

shares traded higher Friday after the personal computing group posted stronger-than-expected second quarter earnings and lifted its full-year profit guidance thanks to a steadying printing supplies division. Group revenues also edged past analysts' forecasts, rising 0.2% from last year to $14 billion as personal systems sales rose 2% to $8.921 billion and operating margins improved to 4.3%. Printing supplies revenues fell 2% to $5.116 billion, but the decline slowed from the previous quarter's slide and operating margins improved to 16.4%.