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HP Inc Earnings: HPQ Stock Is Up as Q2 Earnings Top Expectations

Karl Utermohlen

HP Inc (NYSE:HPQ) reported its quarterly earnings results late today, bringing in a profit that came in ahead of what analysts called for, while the company increased its earnings outlook for the full year, playing a role in lifting HPQ stock after hours Thursday.

HP Inc Earnings

Source: HP

The Palo Alto, Calif.-based business said that for its second quarter of the fiscal 2019, it posted adjusted earnings of 53 cents per share, marking a 10.4% gain when compared to the same period a year ago. This figure was stronger than what analysts called for in the Wall Street consensus estimate.

On an unadjusted basis, HP Inc’s net income did decline to $782 million, or 51 cents per share, from the $1.1 billion, or 64 cents per share it amassed during the same period a year ago. The company’s net revenue was flat year-over-year as it came in at $14 billion for the three-month period, yet it topped what Wall Street called for by a slim margin.

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“We delivered solid Q2 financial results, with strong non-GAAP EPS growing double-digits and coming in at the high end of our outlook,” Dion Weisler, HP’s CEO said. “We continue to strike the right balance between driving results today and investing in innovation to deliver long term financial performance.”

HPQ stock is surging roughly 3% after the bell on Thursday following the company’s strong quarterly earnings showing. Shares were unmoved during regular trading.

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