HP Raises Profit Outlook for Current Quarter
June 21 2016 - 5:50PM
Dow Jones News
HP Inc. said Tuesday it had raised its third-quarter profit
outlook as it planned to discuss updates to its printing business
on a conference call Tuesday afternoon.
Shares of the company declined 3.2% to $12.90 after hours.
The company, made up of the personal computer and printer
operations of the former Hewlett-Packard Co., said it now expects
adjusted earnings on a per-share basis from continuing operations
to be between 43 cents and 46 cents. It had previously forecast 37
cents to 40 cents a share of adjusted profit. Wall Street analysts
project 39 cents.
However, the company backed its annual outlook for profit,
saying it sees adjusted earnings between $1.59 to $1.65 a share and
non-adjusted earnings ranging from $1.52 to $1.58 a share. The
fiscal year ends in October.
In May, the company posted a steeper-than-expected sales drop
for the second quarter amid tepid demand for personal computers and
printers.
Write to Ezequiel Minaya at ezequiel.minaya@wsj.com
(END) Dow Jones Newswires
June 21, 2016 17:35 ET (21:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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