money HP Inc. misses on Q2 revenue estimates despite work-from-home demand
On Wednesday, computing giant HP reported mixed second-quarter results. Total revenue came in at $12.5 billion, compared to $12.86 billion expected, and earnings per share topped estimates ($0.51 vs. $045 expected). Meanwhile, sales at HP’s personal systems and and printing segments dropped 7% and 19%, respectively, from the prior year. Yahoo Finance’s Myles Udland breaks down the company’s report.
Video Transcript
MYLES UDLAND: I also want to call your attention to HP. Shares of HPQ-- not HPE, so this is HP Inc-- that stock down about 4% in the after hours, missing here on the top and the bottom lines, $0.51 adjusted against $0.53 that the Street was looking for.
Company reporting revenues $12.5 billion. The Street was looking for something closer to $12.9, $12.86. And then on the guidance, a little light as well, looking for current quarter earnings per share between $0.39 and $0.45. The Street was looking for around $0.46. Again, that stock is down about 4% in the after hours.
