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HP Shares Close Up Almost 1%, After Early Earnings Release

Scott Mlyn | CNBC
  • HP shares closed up .75% on Thursday after the company issued its fiscal first-quarter earnings statement that showed the PC maker performing better than analysts expected.
  • The company beat estimates on the top and bottom lines, and on its fiscal-year guidance.
  • HP stock was halted in the afternoon as shares suddenly rose. Then the company issued its quarterly earnings report, and shares moved higher when they resumed trading.

HP shares closed up less than 1% on Thursday after the PC maker reported fiscal first-quarter earnings that topped analysts' estimates.

HP stock was halted during the afternoon as shares suddenly rose. The company released its earnings report shortly after, though it had planned to announce the results after market close.

Here's how the company did:

  • Earnings: 92 cents per share, adjusted, vs. 66 cents per share as expected by analysts, according to Refinitiv.
  • Revenue: $15.65 billion. vs. $14.97 billion as expected by analysts, according to Refinitiv.

Revenue grew 7%, with a 34% increase in consumer devices in the company's Personal Systems category, according to a statement. In the previous quarter HP's revenue had declined 1%.

With respect to guidance for the 2021 fiscal year, HP said it sees $3.15 to $3.25 in adjusted earnings per share, well above the $2.65 consensus among analysts polled by Refinitiv.

Executives will discuss the results on a conference call at 4:30 Eastern time.

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