Technology firm HP, Inc. (NYSE: HPE) Monday reported higher earnings and revenues for the first quarter of 2022. The results also surpassed the consensus forecast.
First-quarter earnings, adjusted for special items, rose to $1.10 per share from $0.92 per share in the corresponding period of last year. Net profit was $1.08 billion or $0.99 per share, compared to $1.07 billion or $0.83 per share in the first quarter of 2021. The bottom-line also came in above estimates.
At $17.0 billion, revenues were up 8.8% year-over-year in the first three months of fiscal 2022. Analysts had predicted a slightly slower growth.
Read management/analysts’ comments on HPE’s Q1 report
Shares of Hewlett Packard have gained around 18% in the past six months. The stock closed Monday’s regular session lower.