2023-05-30 16:28:50 ET
HP ( NYSE: HPQ ) shares fell around 1.5% in extended-hours trading on Tuesday after the PC and printer giant reported mixed second-quarter results but kept its full-year free cash flow guidance.
For the period ending April 30, HP earned an adjusted 80 cents per share on $12.91B in net revenue, including $8.18B from personal systems, its PC unit.
A consensus of analysts estimated that HP ( HPQ ) would earn 76 cents per share on $13.04B in revenue.
HP's ( HPQ ) adjusted operating margin during the period was 8.7%, slightly above estimates of 8.1%. The company also generated $500M in free cash flow for the period.
Looking ahead, HP ( HPQ ), led by CEO Enrique Lores, expects earnings per share, excluding one-time items, to be between 81 and 91 cents per share, with the mid-point above the 85 cents per share analysts were anticipating.
HP ( HPQ ) also tweaked its full-year earnings forecast, as it now sees adjusted earnings within a range of $3.30 to $3.50 per share, compared to a previous range of $3.20 to $3.60 per share.
HP ( HPQ ) reiterated its full-year free cash flow guidance, as it expects the financial metric to fall within a range of $3B to $3.5B.
The company will host a conference call at 5 p.m. EST to discuss the results.
More HP news
- HP declares quarterly dividend
- Warren Buffett's Berkshire takes new stakes in COF, Diageo, exits RH
- HP, Dell rise as Morgan Stanley upgrades; firm starts to get more positive on PCs
For further details see:
HP slips as Q2 earnings top expectations, keeps full-year cash flow forecast