Navigate Yoozpaper

Yoozpaper Front Page
The Yoozpaper
Yoozer Profile
Shared Paper
Shared Paper
Create Newspaper
Create Paper
Create Customized Paper
Custom Paper
Create Album
Create Album
Yoozer Notifications
Edit Profile
Edit Profile

Login on Yoozpaper Facebook Login

HP Inc forecasts adjusted profit largely below estimates

Written by on

HP Inc forecasts adjusted profit largely below estimates

0 YOOZ this

HP Inc (HPQ.N), the legacy printer and PC business of the former Hewlett-Packard Co, forecast a current-quarter adjusted profit largely below analysts' estimates amid waning demand for its printers.
The company's shares were down nearly 2.2 percent after the bell.
HP Inc said it expects an adjusted profit 35-38 cents per share for the first quarter. Analysts on average were expecting 38 cents per share, according to Thomson Reuters I/B/E/S.
Revenue from the company's printer business fell nearly 8.2 percent in the fourth quarter, from a year earlier.
To beef up its fading printer business, HP in September said it would buy Samsung Electronics Co Ltd's (005930.KS) printer business for $1.05 billion.
HP Inc's net earnings plunged to $492 million, or 28 cents per share, in the quarter ended Oct. 31, from $1.32 billion, or 73 cents per share.
Excluding items, the company earned 36 cents per share, in line with analysts' estimate.
The company's net revenue rose 2 percent to $12.51 billion, above the average analyst estimate of $11.9 billion.
Meanwhile, Hewlett Packard Enterprise Co (HPE.N), which was also spun off from Hewlett-Packard Co and now holds the corporate hardware and enterprise software division, reported a better-than-expected fourth quarter profit, helped by demand for it servers and storage services.
Excluding items, HPE earned 61 cents per share beating the average analyst estimate of 60 cents.

(Reporting by Rishika Sadam in Bengaluru; Editing by Maju Samuel)

This is from Tue Nov 22, 2016 | 7:47pm EST by

It is from

Return to Reuters Technology News.

Yoozpaper is a social network of online newspapers written by individuals or groups. Yoozpaper takes free articles that members write and formats them as an online newspaper.

Articles Of The Week

Yahoo cyber indictment shows Kremlin, hackers working hand-in-hand

How To Save More Money? 10 Tips About Getting Your Financial Life Together

G20 to jointly fight bank sector hacking

Dutch PM Rutte on course for big victory over far-right Wilders

Need to avoid civilian deaths weighs on minds of U.S. forces in Mosul battle