HP Inc. (NYSE: HPQ)
The company formerly referred to as Hewlett-Packard Corporation now known as HP Inc., reported their first quarter earnings on Thursday February 22nd, 2018 after the market closed for regular trading at 4 p.m.
The company’s shares bolted higher after they reported earning $0.34 per share which handily beat the $0.22 per share that most analysts had been expecting. The revenue beat was attributed mainly to an increase in their sale of personal computers and printers which is their bread and butter.
The company also raised guidance, suggesting that now earnings for fiscal 2018 might be in the range of $1.90 to $2.00 which would be up from the previous guidance of $1.75 to $1.85 per share. The company, which has been a stalwart in the area of personal computing also pays a hefty dividend.
Many investors own it specifically for the 2.6% annual dividend. Shares which closed the regular session up $0.22 at $21.39, rose 2 $22.85 or up 6.83% in the after-hours trading session.
The CEO of HP, Dion Weisler said in a phone briefing,
“We’ve delivered what we said we would do. We outpaced the market growth in every single region.”
He added, “We’re coming out of the gate strong in Q1, with double-digit revenue and EPS growth year over year. Our impressive results spanned all segments and all regions, reflecting our innovative product portfolio and global execution.”
The above price chart shows HP on the daily time frame going back about 6 months. You can see how shares have rebounded from the most recent market sell-off nearly two weeks ago. Shares will likely open up in the green oval area which is about the 50% retracement- a key fibonacci level.
The above price chart shows HP during the regular trading session on the left and the aftermarket session on the right which is slightly shaded gray. You can see how the shares rocketed higher as soon as the earnings announcement was released. Shares traded sideways after this quick move and closed about midway between the move.
HP Inc. provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide.
It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.
The Printing segment provides consumer and commercial printer hardware, supplies, media, solutions, and services, as well as scanning devices; and laserJet and enterprise, inkjet and printing, graphics, and 3D printing solutions.
The company was formerly known as Hewlett-Packard Company and changed its name to HP Inc. in October 2015. HP Inc. was founded in 1939 and is headquartered in Palo Alto, California.-YahooFinance