Shares of HP Inc. (NYSE: HPQ) gained on Thursday evening soon after the information technology firm reported financial results that topped expectations. However, third-quarter earnings and revenues decreased year-over-year, reflecting the COVID-driven slowdown.
At $14.3 billion, revenues were down 2.1% year-over-year in the third quarter but above the consensus forecast. Net income, adjusted for one-off items, dropped to $0.49 per share from $0.58 per share in the third quarter of 2019. Analysts were looking for a faster decline.
Unadjusted net profit was $734 million or $0.52 per share, compared to $1.18 billion or $0.78 per share a year earlier.
This week, HP’s stock traded close to the levels seen a year earlier. It closed Thursday’s regular session higher and gained further during the extended hours, following the announcement. The shares have lost 10% since the beginning of the year.
Most Popular
Costco (COST) reports strong growth in Q1 FY26 earnings; revenue up 8%
Costco Wholesale Corporation (NASDAQ: COST) has reported an increase in net income for the first quarter of fiscal 2026. Revenues grew 8.3% year-over-year. The Issaquah, Washington-headquartered warehouse giant’s total revenues
AVGO Earnings: Broadcom reports higher Q4 FY25 revenue, profit; results beat
Semiconductor company Broadcom, Inc. (NASDAQ: AVGO) on Thursday reported an increase in revenue and adjusted earnings for the fourth quarter of fiscal 2025. The numbers also surpassed analysts' expectations. Adjusted
Lamb Weston (LW) is set to report Q2 2026 earnings next week, here’s what to look for
Shares of Lamb Weston Holdings, Inc. (NYSE: LW) rose over 1% on Thursday. The stock has gained 4% over the past three months. The French fry giant is slated to
