Enrique Lores, CEO, HP
Scott Mlyn | CNBC
HP shares rallied and were discontinued before the company released its first-quarter fiscal profit statement, which showed the PC maker outperforming analysts expected. The company planned to announce the results after the market closed. Shares are now up more than 3% after trading resumed.
This is how the company did it:
- Merits: 92 cents a share, adjusted, versus 66 cents a share, as expected by analysts, according to Refinitiv.
- Revenue: $ 15.65 billion. versus $ 14.97 billion as expected by analysts, according to Refinitiv.
According to a statement, sales grew 7%, with a 34% increase in consumer devices in the company’s Personal Systems category. In the previous quarter, HP sales were down 1%.
Regarding its fiscal year 2021 outlook, HP said it expects $ 3.15 to $ 3.25 in adjusted earnings per share, well above the consensus of $ 2.65 among analysts polled by Refinitiv.
Executives will discuss the results in a conference call at 4:30 a.m. Eastern Time.
WATCH: HP CEO Enrique Lores reflects on the importance of accountability