HP shares jump during trading session as earnings come out early

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Enrique Lores, CEO, HP

Scott Mlyn | CNBC

HP shares rose and were halted before the company issued its fiscal first-quarter earnings statement that showed the PC maker performing better than analysts had expected. The company had planned to announce the results after market close. Shares are now up more 3% after trading resumed .

Here’s how the company did:

  • Earnings: 92 cents per share, adjusted, vs. 66 cents per share as expected by analysts, according to Refinitiv.
  • Revenue: $15.65 billion. vs. $14.97 billion as expected by analysts, according to Refinitiv.

Revenue grew 7%, with a 34% increase in consumer devices in the company’s Personal Systems category, according to a statement. In the previous quarter HP’s revenue had declined 1%.

With respect to guidance for the 2021 fiscal year, HP said it sees $3.15 to $3.25 in adjusted earnings per share, well above the $2.65 consensus among analysts polled by Refinitiv.

Execuitives will discuss the results on a conference call at 4:30 Eastern time.

WATCH: HP CEO Enrique Lores reflects on the importance of accountability


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