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HP earnings are in: solid quarter with somewhat soft guidance

Posted Nov 16th 2006 4:07PM by Melly AlazrakiMelly Alazraki RSS Feed
Filed under: Earnings reports, Hewlett-Packard (HPQ)

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Just watching CNBC and saw that Hewlett-Packard Co. (NYSE:HPQ) had just reported fourth-quarter financial results:

  • $0.68 earnings per share, analysts were expecting $0.64.
  • Revenue was up 6% to $24.6 billion, the Street forecast $24.1 billion
  • Operating income $1.9 billion
  • Inventories climbed from $7.4 billion last quarter to $7.75 billion this quarter
  • Guidance: 60-62 cents non-GAAP EPS, somewhat lower from Street's expectations

Revenue beat estimates by $500 million. Mark Hurd's cost cutting measures seem to have worked. Good profitability with expanding operating margins. Guidance is a concern.

Key drivers: Profitability and year-to-year growth in the computers, printers and services.

Shares are up a little in after-hours.

Tags: 3rd quarter, 3rdQuarter, hewlett-packard, hp, hpq, mark hurd, MarkHurd, q3, q3 2006, Q32006

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Last updated: November 26, 2009: 12:37 AM

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