Hewlett-Packard posted a 29% increase in fiscal Q3 net income to $1.78 billion, or $0.66/share, on revenue growth of 16% to $25.4B. Adjusted EPS totaled $0.71/share, compared to analysts' average estimate of $0.66 on sales of $24.1B. Its shares rose last up 2% to $47.08 in extended trading. In a press release, HP said it estimates Q4 adjusted EPS of $0.80-$0.81, on revenues of $27-$27.2B. Analysts had forecast $0.78 on sales of $26.46B, on average. HP's earnings call is at 5 p.m. (earnings call transcript later today). Shares of HP closed up slightly (0.04%) to $46.17 during normal trading.
Sources: Press release, Reuters
Commentary: Hewlett-Packard Slips Ahead Of Earnings Report Thursday • Good News For Dell, HP: Cheaper Component Costs And Strong Consumer Demand
Stocks/ETFs to watch: HPQ. Competitors: LNVGY.PK, DELL, GTW, AAPL. ETFs: IAH, VGT, IXN
Seeking Alpha's news briefs are combined into a pre-market summary called Wall Street Breakfast. Get Wall Street Breakfast by email -- it's free and takes only seconds to sign up.