HP topped revenue forecasts

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HP topped revenue forecasts

May 30, 2018 - 16:12
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HP Inc topped quarterly revenue forecasts and increased yearly profit estimates, Reuters informed. Company also informed about computers’ demand growth. HP shares rose significantly.

Photo © Guillaume Preat, CC0 1.0

HP Inc topped quarterly revenue forecasts and increased yearly profit estimates, Reuters informed. Company also informed about computers’ demand growth.

HP shares rose significantly.

New yearly profit forecast is $1,97-$2,02 per share. On average analytics expected this parameter at $1,97.

HP personal systems business, including laptops and desktops, accounts for 60% of total revenue. It grew by 14,5% to $8,76 billion in second quarter. Analytics’ expectations were at $8,28 billion.

Company took first place in the world for PC shipments with market share of 22,6% in the first quarter.

HP Inc, which finished purchase of Samsung Electronics Co’s printing business, informed about growth by 10,9% to $5,24 billion.

Net earnings increased by 89,3% to $1,06 billion in quarter finished on April 30.

Company’s revenue went up by 13,1% to $14 billion that is also higher than average estimate made by analytics.

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