Hewlett-Packard (HPQ) Q3 PC Sales Slide Not That Bad, Beats EPS Views; Trims FY12 Outlook
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Price: $24.30 -2.25%
Revenue Growth %: -10.1%
Financial Fact:
Services: 9.97B
Today's EPS Names:
ANF, DXLG, FL, More
Revenue Growth %: -10.1%
Financial Fact:
Services: 9.97B
Today's EPS Names:
ANF, DXLG, FL, More
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Hewlett-Packard Co. (NYSE: HPQ) is in positive territory late Wednesday following third-quarter 2012 results from the PC and server giant.
Sales at H-P fell about 5 percent to $29.7 billion, from $31.2 billion in the same period last year. The Street was looking for sales of $30.2 billion.
Adjusted net income dropped 14 percent to $2.0 billion, or $1 per share, from $1.10 last year. Expectations called for EPS of 98 cents.
Leading the charge lower was H-P's Personal Systems Group (PSG), sales falling 10 percent from last year. Desktop units were down 6 percent with notebook units off 12 percent.
Enterprise Servers, Storage and Networking (ESSN) revs fell 4 percent. H-P said, "Networking revenue was up 6%, Industry Standard Servers revenue was down 3%, Business Critical Systems revenue was down 16%, and Storage revenue was down 5% year over year."
Looking to fiscal 2012, H-P now sees EPS of $4.05 - $4.07, from $4.05 - $4.10 prior and the consensus of $4.07.
Shares are H-P are up 2.3 percent in after-hours trading.
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Sales at H-P fell about 5 percent to $29.7 billion, from $31.2 billion in the same period last year. The Street was looking for sales of $30.2 billion.
Adjusted net income dropped 14 percent to $2.0 billion, or $1 per share, from $1.10 last year. Expectations called for EPS of 98 cents.
Leading the charge lower was H-P's Personal Systems Group (PSG), sales falling 10 percent from last year. Desktop units were down 6 percent with notebook units off 12 percent.
Enterprise Servers, Storage and Networking (ESSN) revs fell 4 percent. H-P said, "Networking revenue was up 6%, Industry Standard Servers revenue was down 3%, Business Critical Systems revenue was down 16%, and Storage revenue was down 5% year over year."
Looking to fiscal 2012, H-P now sees EPS of $4.05 - $4.07, from $4.05 - $4.10 prior and the consensus of $4.07.
Shares are H-P are up 2.3 percent in after-hours trading.
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