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.
Conagra Brands Inc. (NYSE: CAG) reported strong results for the third quarter of 2021 which surpassed expectations. Net sales increased 8.5% to $2.8 billion helped by the increase in at-home
Shares of Carnival Corp. (NYSE: CCL) were down over 2% on Thursday. The company reported first quarter 2021 earnings results a day ago which missed expectations. Despite seeing a drastic
Widespread flight cancellations and restrictions on the hotel industry during the pandemic have had a ripple effect on credit card companies and payment service providers. After going through a rough