HPQ Earnings Narrowly Top Estimates but Guidance Disappoints
HP Inc. delivered fiscal fourth-quarter results that edged past Wall Street expectations, with earnings of $0.93 per share against a $0.92 consensus and revenue of $14.64 billion versus $14.50 billion forecasts. The muted beat failed to offset concerns as the PC and printer Maker issued lower-than-expected guidance for the current quarter and full fiscal year.
Shares tumbled 8% in extended trading as investors weighed the mixed report. The company now projects Q1 earnings between $0.73-$0.81 (below the $0.78 consensus) and FY2024 earnings of $2.90-$3.20 (versus $3.34 expectations). Analysts maintain a cautious stance, with 9 of 12 rating HPQ as Hold and an average price target suggesting just 12% upside.