Hewlett-Packard Company Beats on EPS, Misses on Revenues; Shares Tank (HPQ)
Jared Cummans Feb 24, 2015
After Tuesday’s closing bell, tech giant Hewlett-Packard Company (HPQ ) reported earnings results that disappointed investors.
HPQ’s Earnings in Brief
- The company reported Q1 EPS of $0.92, topping analyst estimates of $0.91.
- Revenues for the quarter came in at $26.8 billion, falling short of the Street’s expectation of $27.35 billion.
- The company guided below analyst estimates for both Q2 2015 as well as FY 2015.
Chairperson, president, and CEO Meg Whitman had the following comments: “With the first quarter of fiscal 2015 now behind us, the HP turnaround remains on track. We grew operating profit margins across all of our major business segments, increased investment in innovation, and executed well across key areas of our portfolio and in our separation activities. Our progress continues as we head into Q2.”
The company made no mention of its dividend in its earnings statement. The stock will pay out a dividend of $0.16 on 4/1/2015 to all shareholders on record as of 3/11/2015.
Shares of HPQ were down more than 6% in after-hours trading as the revenue miss and low guidance spooked investors.
The Bottom Line
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