As of fiscal second-quarter accounts, Hewlett-Packard beat analysts' expectations for double-digit gains in the evening market. For the period ended April 30, net profits reached $1,1 billion versus $1,6 billion recorded in the same period last year.
In terms of earnings per share, the result fell to 55 cents from 80 but net of extraordinary items it came to 87 cents. Analysts had expected a figure of 81 cents. Revenue fell 10% to $27,6 billion, just below estimates of $28 billion. For the current quarter, HP expects earnings per share between 84 and 87 cents, better than the 83 cents expected by the market. For the full year, the figure is seen between $3,50 and $3,60. Also in this case the expectations, stopped at 3,44 dollars, have been exceeded.
If the second quarter accounts are viewed positively, proving that Chief Executive Officer Meg Whitman's cost control strategy is working, it is worth noting that the performance of the PC division was very heavy. Sales suffered a 20% drop. In particular, sales among consumers have seen a -29% while those relating to companies have decreased by 14%.
Oddly, notebook sales fell 24% while desktop computer sales limited the decline to -18%. If there is one division that is resisting the contraction of the business it is that of printers, which compared to a year ago saw sales down by 1%. However, the credit does not go to the hardware (-11%) but to the ink cartridges. Pending the publication of the accounts, arrived at closed markets, HP shares closed up 0,57% at 21,23 dollars. In the after-hours it rose by 12,77% to $24.
