HP Shares Up 4% Following Q2 Beat, Provides Strong Outlook


HP Inc. (NYSE:HPQ) shares were trading around 4% higher Wednesday afternoon following the company’s reported Q2 results, with revenue of $16.5 billion coming in better than the Street estimate of $16.17 billion. EPS was $1.08, compared to the Street estimate of $1.05.
On the demand side, continued strength in Commercial was encouraging, offsetting the softness in Consumer. On the supply side, incremental supply chain challenges in PS are driving some revenue pushout from Q3 to Q4, but the company seems to have the “line of sight” that the supply chain will improve in Q4.
Despite a shift in revenue toward F4Q, the company reiterated its full 2022-year free cash flow target of over $4.5 billion, which takes into consideration the recovery in the PS supply chain and the reduction in inventory.
For Q1/22, the company expects EPS in the range of $1.03-$1.08, compared to the Street estimate of $1.02. For the full 2022-year, the EPS is expected to range from $4.24 to $4.38, compared to the Street estimate of $4.25.


Follow us on Google news for more updates and News










Full Disclaimer








>

FREE

Get the most important news and analyses for Free.

Thank you for subscribing.

Something went wrong.