Hewlett-Packard (HPQ) Tops Q3 EPS by 3c

Hewlett-Packard (NYSE: HPQ) reported Q3 EPS of $0.88, $0.03 better than the analyst estimate of $0.85. Revenue for the quarter came in at $25.3 billion versus the consensus estimate of $25.44 billion.

Separation update On July 1, Hewlett Packard Enterprise filed an initial Registration Statement on Form 10 with the Securities and Exchange Commission (SEC), an important step in the separation process. The filing provides detailed information on the business and historical financial results of Hewlett Packard Enterprise. On August 10, HP filed the first amendment to the Form 10, which included the pro forma cash and debt levels for Hewlett Packard Enterprise.

With the Hewlett Packard Enterprise capital structure determined, credit ratings agencies published expected investment grade ratings for both Hewlett Packard Enterprise and HP Inc., which is in line with our objectives.

On August 12, HP introduced the expected members of the boards of directors for both Hewlett Packard Enterprise and HP Inc., effective upon the completion of the separation. Each board will include members of the current HP board, as well as several new directors chosen after a comprehensive review of personal and professional qualifications as they relate to the specific needs of the two new companies.

"HP delivered results in the third quarter that reflect very strong performance in our Enterprise Group and substantial progress in turning around Enterprise Services," said Meg Whitman, chairman, president and chief executive officer, HP. "I am very pleased that we have continued to deliver the results we said we would, while remaining on track to execute one of the largest and most complex separations ever undertaken."

Hewlett-Packard sees FY2015 EPS of $3.59-$3.65, versus the consensus of $3.64.

Hewlett-Packard sees Q4 2015 EPS of $0.92-$0.98, versus the consensus of $1.00.

For earnings history and earnings-related data on Hewlett-Packard (HPQ) click here.

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