Investors were expecting the worst, which is why Hewlett-Packard stock celebrated its quarterly accounts yesterday in the after-hours. In the period ended October 31, the fiscal fourth quarter, the computer maker reported earnings of $1,41 billion versus a loss of $6,85 billion it posted in the same period a year earlier, when it suffered an 8,8 .XNUMX billion linked to the acquisition of the British software company Autonomy.
Excluding one-time items, earnings fell to $1,01 from $1,16 against expectations for a dollar. Revenue slipped 2,8% to $29,13 billion versus estimates of $27,91 billion. It was the ninth consecutive quarterly decline, driven by weak software and printer sales. The accounts – the first since the group left the Dow Jones – therefore satisfied the market.
HP also confirmed its estimates for the new year. He expects earnings before exceptional items in the 82-86 cents per share range for the fiscal first quarter, in line with the 85 cent consensus. "Our quarterly results show that the turnaround for HP is underway," said chairman and chief executive officer Meg Whitman. The stock managed to gain up to 8% in the after-hours. The session finished down 0,91% to $25,09.
