Hewlett Packard reports outstanding results

Posted Aug 17th 2007 10:43AM by Eric Buscemi
Filed under: Earnings Reports, Hewlett-Packard (HPQ)

Last night Hewlett Packard Company (NYSE: HPQ) reported third quarter results which far exceeded analysts' expectations. Here are some highlights:

Non-Gap EPS of 71c vs. consensus of 65c
Revenue of $25.4B vs. consensus of $24B
YoY growth in America up 14%
YoY growth in Europe/Middle East/Africa up 16%, in Asia Pacific up 22%
YoY growth in BRIC countries up 35%
Fourth quarter EPS outlook of 80c-81c vs. consensus of 77c
Fourth quarter revenue outlook $27B-$27.2B vs consensus of $26.4B

Wall Street was exceedingly positive on the results, with positive comments at a number of firms, including Bear Stearns raising their target price to $68 from $63 and BMO Capital noting that Hewlett is one of its top picks. Only Think Equity was not impressed, saying to sell Hewlett as competition may be a problem to Hewlett's profitability.

Hewlett Packard jumped this morning from a closing price of $46.05 to around $47.70 in trading this morning.

Tags: analyst, earnings, hewlett packard, HewlettPackard, hpq, inthenews