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HP: Fiscal Q1 Earnings Snapshot

PALO ALTO, Calif. (AP) — PALO ALTO, Calif. (AP) — HP Inc. (HPQ) on Tuesday reported fiscal first-quarter net income of $545 million.

On a per-share basis, the Palo Alto, California-based company said it had net income of 58 cents. Earnings, adjusted for one-time gains and costs, were 81 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.

The personal computer and printer maker posted revenue of $14.44 billion in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $14.26 billion.

For the current quarter ending in April, HP expects its per-share earnings to range from 70 cents to 76 cents.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HPQ at https://www.zacks.com/ap/HPQ

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