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HP Sales Beat Estimates on Work-at-Home PC Demand; Shares Up
Bloomberg 2/25/2021 Ian King © Bloomberg Signage for HP Inc. outside the company s headquarters in Palo Alto, California, U.S., on Wednesday, Feb. 24, 2021. HP Inc. is expected to release earnings figures on February 25.
(Bloomberg) HP Inc. reported quarterly revenue and profit that topped analysts’ estimates, buoyed by strong sales of personal computers and printers needed for remote work and study. The company gave a forecast that also handily beat Wall Street expectations, sending the stock higher.
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Sales were $15.6 billion in the fiscal first quarter, the Palo Alto, California-based company said Thursday in a statement. That beat the average analyst estimate of about $15 billion, according to data compiled by Bloomberg. Excluding some items, profit was 92 cents a share, also ahead of Wall Street expectations.