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HP Results Beat in Q2 on Boost From PC Demand

Stock Markets May 31, 2022 05:07PM ET
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© Reuters. HP Inc Earnings, Revenue Beat in Q2
 
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By Yasin Ebrahim

Investing.com - HP (NYSE:HPQ) reported Tuesday second quarter results as growth in its core businesses on strong demand offset weakness in its printing business.

HP shares gained 0.26% in after-hours trade following the report.

HP Inc announced earnings per share of $1.08 on revenue of $16.5B. Analysts polled by Investing.com anticipated EPS of $1.05 on revenue of $16.17B.

Personal systems, which includes personal computers and makes up the bulk of overall growth, saw net revenue rise 9% to $11.5 billion year over year.

Printing net revenue fell 7% to $5.0 billion, led by partly by supply-chain issues.

Looking ahead, the company forecast second-quarter EPS of $1.08, at the high end of the previously provided outlook of $1.02 to $1.08 per share. That compared with Wall Street estimates for EPS of $1.03.

Broadcom had beat expectations on Thursday with second quarter EPS of $9.07 on revenue of $8.1B, compared to forecast for EPS of $8.71 on revenue of $7.91B.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

HP Results Beat in Q2 on Boost From PC Demand
 

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