Hewlett Packard Slightly Lower Following Q2 Earnings Report

Posted Aug 19th 2010 6:30PM by Michael Fowlkes
Filed under: Earnings Reports, Forecasts, Management, Hewlett-Packard (HPQ), Scandals, Technical Analysis

Shares of Hewlett Packard (HPQ), the world's largest maker of computers and printers are trading slightly lower in after hours trading with the company posting in-line earnings for its fiscal third quarter following today's market close.

The company reported its third quarter earnings were $1.08 per share, excluding restructuring charges and other impacts, which matched analyst estimates for the quarter.

During the same period last year the company had earnings of $0.91 per share.

Sales for the quarter were up 11%, to $30.7 billion. This was slightly higher than analyst forecasts for $30.43 billion for the quarter.

Looking forward, the company reaffirmed its fourth quarter forecast of $1.25 to $1.27 per share. It also maintained its full year EPS forecast in a range between $4.49 to $4.51.

The stock was down 1.45% during regular trading today ahead of this afternoon's report, as the stock continues to fall in the wake of the news earlier this month that the company's CEO, Mark Hurd, would be leaving the company.

Hurd resigned earlier this month following reports that he was being investigated for sexual harassment and violations of the company's business conduct.

Here is a 2 month chart on the stock to see how shares have been trading recently: