HPQ - HP Inc.

NYSE - NYSE Delayed price. Currency in USD
+0.39 (+2.28%)
At close: 4:02PM EDT

17.35 -0.11 (-0.63%)
After hours: 7:10PM EDT

Stock chart is not supported by your current browser
Previous close17.07
Bid17.35 x 4000
Ask17.50 x 3200
Day's range17.33 - 17.63
52-week range12.54 - 23.93
Avg. volume15,818,280
Market cap24.967B
Beta (5Y monthly)1.02
PE ratio (TTM)8.55
EPS (TTM)2.04
Earnings date20 Aug 2020 - 24 Aug 2020
Forward dividend & yield0.70 (4.13%)
Ex-dividend date08 Sep 2020
1y target est17.71
  • Facebook has an incredible challenge in front of it: Goldman Sachs strategist
    Yahoo Finance

    Facebook has an incredible challenge in front of it: Goldman Sachs strategist

    Facebook won't overcome the yawning advertiser revolt in response to hate content overnight, suggests a Goldman Sachs strategist that specializes in tech investing.

  • What will drive the Hp Inc share price higher?

    What will drive the Hp Inc share price higher?

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  • Gary Vaynerchuk: Most advertisers don't know what they want Facebook to do about hate speech
    Yahoo Finance

    Gary Vaynerchuk: Most advertisers don't know what they want Facebook to do about hate speech

    Marketing veteran and entrepreneur Gary Vaynerchuk weighs in on the controversy swirling around Facebook.

  • If 2020 Weren't Strange Enough, Printers Are Staging a Comeback

    If 2020 Weren't Strange Enough, Printers Are Staging a Comeback

    (Bloomberg Opinion) -- The Covid-19 pandemic is creating a deeper appreciation for things such as one’s health, getting together with friends, the great outdoors — and printers. Yes, home printers, those clunky deskside contraptions of a bygone era, are suddenly making a comeback, and it may outlast this crisis.As a recent Deloitte report put it, when the virus hit, hundreds of millions of people “brought their laptops home in a bag … but left their printers behind!” And oh, how we’ve missed them — not for the whir of the machine grabbing a sheet, nor the whoosh of the paper hitting its landing (though plenty of ASMR printer recordings do exist). Rather, it’s because we still print a lot more than we probably realized. One example: During regional Covid-19 lockdowns, consumers turned to online shopping, and that brought with it the inconvenience of needing to make returns and print shipping labels. That’s something office workers may have tended to do — shh! for I must whisper this part — at the office.Office printer mischief aside, there are plenty of jobs that entail regularly creating hard copies of reports or documents to sign, which is part of the reason some companies paid one-time allowances in the wake of Covid-19 to help employees configure their work-from-home setups. Deloitte predicts that sales of all-in-one home printers — the kind that scan and email — will surge 15% this year to nearly $29 billion. That’s double the annual growth rate that had been predicted before the coronavirus outbreak. Printers aren’t the only piece of 1990s nostalgia to see a resurgence lately. Social-media apps such as Instagram and TikTok show evidence of a revival of rollerblading, as cooped-up consumers look for safe activities to do outside. Food shortages, combined with the desire to make fewer trips to the grocery store, have led to a surge in sales of canned goods, home-baking ingredients and other pantry staples that had been waning in popularity during the last decade amid the rise of fresher foods and ready-to-eat items.But if any of these trends were to last as states and countries reopen and virus fears eventually subside, it’s probably printers. The lockdowns showed lots of companies that it’s more than possible to have large portions of their workforce working remotely. And there are signs that many will continue to embrace work-from-home policies, whether as a perk to retain and attract talent or to save on costs. Some offices that have already reopened are also running into post-Covid challenges, such as having open floor plans with side-by-side desks that may be more conducive to spreading the virus, and finding it difficult to get everyone up and down elevators safely without causing crowds in lobby areas.This sudden demand for home printers must be good news for manufacturers such as HP Inc., Canon Inc. and Xerox Holdings Corp., right? Not necessarily. These companies primarily make their money by selling business equipment, and from the recurring need for printer ink and other services; consumer hardware is generally less profitable. In fact, while printing normally accounts for just one-third of HP’s revenue, it drives more than half the company’s operating profit. However, HP’s managed print services experienced a 40% monthly decline in pages printed from February to April. Its commercial graphics solutions, such as its Indigo digital presses that can make brochures and catalogs, also suffered: “Indigo impressions went from being up 9% year-over-year in February to down 24% year-over-year in April,” CEO Enrique Lores said on HP’s earnings call in May.Still, Lores sees a silver lining for HP’s computer business. It used to be that one household sharing a single computer was enough, especially with tablets around. Now, he sees more homes having one PC per person. “What this crisis has shown is that if you want to be productive working from home, if you want your kids to be productive learning from home, you need to have access to a PC,” Lores said at an investor conference in May. “This is going to be changing the amount of PCs per household.” On the business side, while corporations are trying to cut back on printing to save money and the environment, HP and its rivals have their sights set on 3D printing as a way to stay relevant and keep growing. (SmileDirectClub Inc. makes its teeth aligners with HP’s 3D printing, which it used to make coronavirus face shields for hospitals, too.) HP is also pushing subscriptions to its Instant Ink delivery service, which counted more than 7 million customers last month, up from 6 million in February.And there you have it: The printer, the underappreciated office wallflower, has inked its place in the work-from-home future, for now. Just don’t count on that changing the fortunes of the companies that make them. This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Microsoft Pauses Facebook, Instagram Advertising Spending

    Microsoft Pauses Facebook, Instagram Advertising Spending

    (Bloomberg) -- Microsoft Corp. has paused global advertising spending on Facebook Inc. and Instagram because of concerns about ads appearing next to inappropriate content, according to a person familiar with the matter.The software giant spent an estimated $116 million in Facebook advertising in 2019, and was the company’s third-largest advertiser last year, according to data from Pathmatics. Microsoft initially halted spending on the sites in the U.S. in May and has now expanded that globally, said the person, who didn’t want to be named discussing internal corporate matters. Axios earlier reported the move, citing comments from Chief Marketing Officer Chris Capossela in an internal Microsoft message board.Capossela did not immediately return an email asking for comment.A list of companies pulling back spending on Facebook properties is lengthening almost by the minute, part of an exodus aimed at pushing the social network and its peers to limit hate speech and posts that divide and misinform. Starbucks Corp. and Diageo Plc, Ford Motor Co. and HP Inc. are among those who said they are stopping ads on social networks for now.Microsoft’s concerns relate purely to the placement of ads next to certain content and aren’t a statement about Facebook’s policies, the person said.The company has spoken with Facebook and Instagram executives on what steps will be needed to resume spending and expects the advertising halt to be in effect through August.Although it didn’t disclose it publicly at the time, Microsoft was among companies that pulled ads from YouTube in February 2019 amid concerns about child pornography, the person said.(Updates with timing in the sixth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • HP CEO: 'We are a purpose driven brand'
    Yahoo Finance

    HP CEO: 'We are a purpose driven brand'

    HP CEO Enrique Lores chats with Yahoo Finance about diversity and the future of the PC and printer maker.

  • Why Is HP (HPQ) Up 9.1% Since Last Earnings Report?

    Why Is HP (HPQ) Up 9.1% Since Last Earnings Report?

    HP (HPQ) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

  • China’s $136 Billion E-Commerce Haul Signals a Consumer Comeback

    China’s $136 Billion E-Commerce Haul Signals a Consumer Comeback

    (Bloomberg) -- Alibaba Group Holding Ltd. and JD.com Inc. handled record sales of $136 billion during the country’s biggest online shopping gala of the post-pandemic era, suggesting China’s nascent consumer spending recovery has legs.The twin e-commerce giants put nationwide consumption to its first major test since the pandemic with the annual “6.18” summer extravaganza that concluded Thursday. Transactions across JD’s online platforms during the 18-day marathon leapt 34% to 269.2 billion yuan ($38 billion), a faster pace than in 2019. And Alibaba said it handled 698.2 billion yuan during its own campaign, without a year-earlier comparison. JD’s shares stood largely unchanged after rising 3.5% in their Hong Kong debut.China’s largest retailers counted on pent-up demand during the event -- created by JD to commemorate its June 18 founding anniversary -- to make up for lost sales during a coronavirus-stricken March quarter. Global brands and smaller merchants alike stocked up on goods for months in anticipation of an online bargain spree surpassed only by the Nov. 11 Singles’ Day in scale. The final tally underscored how hundreds of millions of shoppers remain willing to spend after the world’s No. 2 economy contracted for the first time in decades, especially given huge discounts as Covid-19 shifted buying to the internet.“The strong GMV at 6.18 will help to dispel market anxiety about virus-related disruptions,” Bloomberg Intelligence analyst Vey-Sern Ling said. “Chinese e-commerce platforms will probably deliver strong 2Q sales and profit recovery due to pent-up consumer demand and an accelerated shift to digital consumption channels driven by the virus.”This year’s deals-fest culminated with the biggest bargains Thursday and featured more generous subsidies than ever before, as well as an unprecedented cohort of live-streaming personalities. Competition also intensified with the likes of ByteDance Ltd. and Kuaishou -- whose video app now sells JD goods -- vying for buyers.“Chinese and foreign brands had sluggish sales due to the pandemic, and 6.18 has become their most important opportunity in the first half,” JD Retail Chief Executive Officer Xu Lei said in an interview with Bloomberg Television. For discretionary items like home appliances, “we’ve seen a recovery in consumption.”Read more: Chinese Shoppers Can Go Out Again. Online Buys Show They Won’tChinese retail suffered a record collapse in the first three months of 2020. While it’s on the mend, latest data shows private consumption still sluggish, dashing hopes of a V-shaped recovery as people head back to work. The picture is complicated by the fact that Covid-19 has kept people away from stores and shifted an unknown proportion of retail activity online, propping up online purchases.JD has projected revenue growth of 20% to 30% this quarter. Xu -- widely viewed as the front-runner to succeed billionaire founder Richard Liu -- says JD is on track to meet that goal and isn’t threatened by competitors encroaching upon its turf, like in consumer gadgets.“I don’t dance with them, I dance with users,” he said.Signs had grown this month that China’s e-commerce giants were on track for record sums as measured by gross merchandise value, or total value of goods sold. During the first ten hours of its 6.18 campaign, Alibaba’s Tmall business-to-consumer marketplace logged sales 50% higher than during the same period last year, after participating brands doubled. JD has said sales of imports like HP laptops and Dyson hairdryers soared, while it’s selling more fresh produce in smaller cities.Read more: JD’s Outlook Beats After E-Commerce Surges in China LockdownInitiated in 2014 as a riposte to Alibaba’s Singles’ Day, 6.18 has become yet another annual ritual for e-commerce companies and their offline partners from Walmart Inc. to Suning.com Co. Beyond headline figures, it’s less clear how much it contributes to the bottom line given the enormous discounting involved.“The result is good as far as growth is concerned, but in terms of margins, all the players will see the consequences,” said Steven Zhu, analyst at Pacific Epoch. “It’s just what I call paid-GMV for all the platforms. It’s the time that people have to have a good number after the coronavirus, so they just do it at whatever the cost.”Alibaba, along with brands on its platforms, committed cash and other coupons worth a total of 14 billion yuan, according to the company. JD said it offered 10 billion yuan in subsidies.“User growth and retention, and the digitization of brands and merchants are key considerations” when Alibaba pushes subsidies during promotions like 6.18, said Alibaba Vice President Mike Gu, who heads Tmall’s fashion and consumer goods businesses.Read more: Alibaba Drops After Projecting Slowing Growth in Uncertain TimesMore broadly, sales of fast-moving consumer goods on the Tmall and Taobao marketplaces in the June quarter have so far exceeded the pace of 2019’s final quarter, Gu said in an interview. Thanks to 6.18, apparel growth this month has also climbed back to pre-Covid-19 levels, he added.Live-streaming is also playing a bigger role during this year’s 6.18, at a time Covid-19 is fueling an unprecedented boom in online media. Alibaba’s Taobao Live championed the use of influencers to sell everything from lipstick to rockets, prompting rivals like JD and Pinduoduo Inc. to follow suit.Social media companies like TikTok-owner ByteDance and Tencent Holdings Ltd.-backed Kuaishou are jumping on the bandwagon. Their mini-video platforms in China have lured a long list of tech chieftains hawking products of their own to live-streaming fans: The latest was NetEase Inc.’s usually reclusive founder, William Ding. Last week, his debut on Kuaishou amassed 72 million yuan of sales in just four hours.“I’ve never eaten beef jerky as tasty as this in the last twenty years,” the billionaire said during the livestream.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • HP Rolls Out New Printer, Eyes Remote-Working Opportunity

    HP Rolls Out New Printer, Eyes Remote-Working Opportunity

    With the recently-launched family printer, HP (HPQ) aims to cater to the needs of people and students, who are forced to work and learn from home amid the coronavirus pandemic.

  • HP (HPQ) Prices Senior Notes Offerings Worth $3 Billion

    HP (HPQ) Prices Senior Notes Offerings Worth $3 Billion

    HP (HPQ) is borrowing $3 billion through an offering of senior unsecured notes to fund its $2.55 billion worth of debt tender offers and use the remaining for general corporate purposes.

  • HP (HPQ) Fortifies 3D Printing Capabilities With New Steps

    HP (HPQ) Fortifies 3D Printing Capabilities With New Steps

    HP (HPQ) partners with key companies and introduces new PP material for 3D printing.

  • Bloomberg

    HP Scores $439 Million Win on Quanta’s Factories, Patents

    (Bloomberg) -- HP Inc. will get to keep all the cash, factories and patents Quanta Storage Inc. was ordered to turn over to satisfy a $439 million antitrust judgment from 2019, a federal appeals court ruled.The Taiwanese disk drive maker was ordered to surrender almost all its assets before its appellate challenge had played out because it failed to post an $85 million bond to prevent early collection of the crippling award. The appellate court did agree to give it more time to comply.“Quanta risked bet-the-company litigation and lost, so the district court ordered it to hand over the company,” a three-judge panel of the Court of Appeals in New Orleans said Friday in a 21-page ruling.Quanta tried repeatedly in April to delay HP’s push to collect on the judgment. It claimed that coronavirus travel and business restrictions in Taiwan and China, where most of its executives and factories are, prevented it from posting the bond while complying with Taiwanese regulations on asset transfers by publicly traded companies. HP said Quanta was using the pandemic as a ploy to dissipate assets that could be used to satisfy the judgment.“It is not apparent from the record that the district court considered the amount of time it would take for Quanta to complete the asset transfer process required by Taiwanese law,” the panel said Friday.‘Cannot Go Unpunished’HP said it was pleased that the panel agreed with the trial judge and jury.“Quanta violated U.S. antitrust laws by conspiring to fix prices,” Alex Roberts, one of HP’s lawyers, said in an email. “That conduct cannot go unpunished. HP took them to task for those violations, and now we look forward to ensuring they comply promptly” with the turnover orders.Quanta said in an exchange filing in Taiwan on Sunday that the company will file a petition for the case to be reheard en banc. It will also discuss with its lawyers the procedure of the U.S. Supreme Court appeal in the case. The impact on the operations is yet to be evaluated, Quanta said.A Houston jury awarded HP $176 million in damages after a price-fixing trial in late 2019. Quanta was the only optical disk drive maker that didn’t settle out of court when HP sued more than a dozen manufacturers over a decade-long conspiracy to rig prices for components used to store and read media and data on DVDs, CDs and Blu-Ray discs. Industry giants including Toshiba Corp., Samsung Electronics, Hitachi-LG and Sony Electronics jointly controlled 90% of the market.Damages TripledAfter the jury tagged Quanta with all of HP’s losses from the racket, U.S. District Judge David Hittner in Houston compounded Quanta’s woes by tripling the damages, as allowed under U.S. antitrust law, subtracting settlement credits HP had already received.On appeal, Quanta argued that the damages were incorrectly calculated at trial because jurors included purchases by HP’s foreign subsidiaries, which Quanta claimed aren’t covered by U.S. antitrust protections. HP said its economic expert excluded purchases by the foreign units, and the appeals court agreed, upholding the money judgment.Quanta, which has surrendered some assets to a court custodian, had sought more time to comply with Taiwanese regulations before turning over the keys to its Asian factories. It had also said it needs to make sure the HP judgment is enforceable under local law before complying with an overseas court order that essentially liquidates the company.It urged the courts to respect international comity and require HP to confirm the judgment in Taiwanese courts -- or risk retaliation by foreign judges who might strip American companies of the protection of U.S. courts in overseas disputes. The appeals court rejected those arguments.The case is Hewlett-Packard Co. v. Quanta Storage Inc., 19-20799, U.S. Court of Appeals for the Fifth Circuit (New Orleans).(Updates with Quanta Storage comment in eighth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Shareholder Alert: Robbins LLP Announces It Is Investigating HP Inc. (HPQ) for Misleading Shareholders
    Business Wire

    Shareholder Alert: Robbins LLP Announces It Is Investigating HP Inc. (HPQ) for Misleading Shareholders

    Shareholder rights law firm Robbins LLP announces that it is investigating HP Inc. (NASDAQ: HPQ) for alleged violations of the Securities Exchange Act of 1934 and whether the Company's officers and directors breached their fiduciary duties to shareholders. HP provides personal computing and other access devices, printing products, and related technologies and services.

  • Two reasons why the market is missing a trick with HP Inc

    Two reasons why the market is missing a trick with HP Inc

    Buying quality merchandise when it's on sale is a stock market strategy used by some of the greatest investors in the world - including Warren Buffett. After t...

  • HP Fails to Capitalize on Surging Demand for PCs During the COVID-19 Crisis
    Motley Fool

    HP Fails to Capitalize on Surging Demand for PCs During the COVID-19 Crisis

    HP (NYSE: HPQ) recently posted its second-quarter earnings, and the results didn't impress investors. The PC and printer maker's revenue fell 11% annually to $12.5 billion, missing estimates by $240 million.

  • Dell Reports Steady Sales, Profit on Corporate PC Demand

    Dell Reports Steady Sales, Profit on Corporate PC Demand

    (Bloomberg) -- Dell Technologies Inc. reported quarterly revenue and profit that were better than projected on greater sales of personal computers to businesses with employees working from home, even while server demand waned. Shares jumped 7% in extended trading.Revenue was $21.9 billion in the period that ended May 1, little-changed from a year earlier, the Round Rock, Texas-based company said Thursday in a statement. On average, analysts estimated $20.8 billion, according to data compiled by Bloomberg. Dell generated profit, excluding some items, of $1.34 per share, easily beating analysts’ projection of 95 cents.Chief Executive Officer Michael Dell has been the architect of a strategy to offer diversified information technology. The company makes PCs, data-center hardware, cybersecurity products and other software. The resulting empire was saddled with debt, which the company has prioritized paying down to have an investment-grade credit rating. Dell reported it repaid $5.4 billion in debt during the fiscal first quarter, leaving it with $48.4 billion in long-term debt.To save costs during the recession caused by the coronavirus pandemic, Dell has frozen hiring, raises, promotions and contributions to its employees’ 401(k) retirement plans, Bloomberg News reported this month. During Donald Trump’s tenure as president, Dell has shifted its supply chain away from China where possible to avoid the worst effects of the trade war with the U.S. That decision looks to have paid off, with Dell’s PC business holding up better than that of rival HP Inc., which on Wednesday reported declining PC sales partly due to supply disruptions.In a conference call after the results, Sweet said revenue in the current period would be “seasonally lower” than in prior years. Usually, sales in the three months ending in July are higher than in the fiscal first quarter, but that may not happen this year. Dell withdrew its forecasts in March and Sweet didn’t offer any further guidance on Thursday.“We’re all navigating through a difficult time right now, but our focus has been on let’s get through this, let’s do the right thing and then let’s position the company properly to take advantage of the opportunities post-crisis,” Chief Financial Officer Tom Sweet said in an interview. Among those opportunites, he said, are demand from the explosion of data, new fifth-generation wireless networks and edge computing, in which servers are located closer to customers rather than at far-way centers.Dell also said it would suspend a share-repurchase plan announced in February that was valued at $1 billion over two years.Shares reached a high of $49.74 in extended trading after closing at $45.58 in New York. The stock has dropped 11% this year.Fiscal first-quarter revenue in Dell’s personal computer division, called the Client Solutions Group, climbed 2% to $11.1 billion from a year earlier. Dell said there was “double-digit unit and revenue growth” in laptops sold to businesses in the quarter as well as “high-single-digit revenue growth” in mobile workstation computers. Overall, the commercial PC business gained 4% to $8.63 billion. Consumer PC sales declined 5% to $2.47 billion.Sales in Dell’s data-center hardware unit, called the Infrastructure Solutions Group, dropped 8% to $7.57 billion. Servers and networking gear sales fell 10% while storage hardware dipped 5%. The company attributed the drop to customers spending more on “remote work and business continuity solutions” rather than server farms.VMware Inc., the publicly traded software maker that Dell owns more than 80% of, saw revenue advance 12% in the first quarter, to $2.8 billion.(Updates with comments from CFO in the sixth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Why HP Stock Just Dropped 12%
    Motley Fool

    Why HP Stock Just Dropped 12%

    What happened Shares of PC and printers maker HP (NYSE: HPQ) -- the artist formerly known as Hewlett-Packard -- are down 12.4% as of 11:05 a.m. EDT despite last night's report of a big earnings beat.

  • Stock Market News: Why HP Stock Sank While This Aerospace Stock Flew Higher
    Motley Fool

    Stock Market News: Why HP Stock Sank While This Aerospace Stock Flew Higher

    Investors once again had to confront the difficult economic realities of the coronavirus pandemic, with 2.1 million more first-time claims for unemployment benefits weighing on market sentiment. For tech giant HP (NYSE: HPQ), the news wasn't as good as many investors had hoped.

  • Stock Market News for May 28, 2020

    Stock Market News for May 28, 2020

    The three major indexes closed in the green on Wednesday, as investors focused on economic recovery stemming from business activity rising across the country.

  • HP (HPQ) Plunges as Supply-Chain Disruptions Hurt Q2 Earnings

    HP (HPQ) Plunges as Supply-Chain Disruptions Hurt Q2 Earnings

    Supply-chain and manufacturing disruptions due to the coronavirus outbreak hurt HP's (HPQ) second-quarter fiscal 2020 results.

  • HP Inc (HPQ) Q2 2020 Earnings Call Transcript
    Motley Fool

    HP Inc (HPQ) Q2 2020 Earnings Call Transcript

    HPQ earnings call for the period ending April 30, 2020.

  • Bloomberg

    HP Reports Declining Revenue on Supply-Chain Disruptions

    (Bloomberg) -- HP Inc. reported declining quarterly sales, signaling the coronavirus pandemic has disrupted the supply chain of the world’s second-largest personal computer maker. Shares declined about 5.5% in extended trading.Revenue fell 11% to $12.5 billion in the period ended April 30, the Palo Alto, California-based company said Wednesday in a statement. Analysts, on average, estimated $12.9 billion, according to data compiled by Bloomberg. HP projected profit, excluding some expenses, of 39 cents to 45 cents a share in the current quarter, falling short of analysts estimates of 46 cents.HP will delay its splashy $15 billion buyback plan until the “market stabilizes,” Chief Financial Officer Steve Fieler said on a conference call after the results. The company will provide an update on the repurchases some time in the current quarter, he said.The buybacks were part of a $16 billion program to return more money to shareholders. The company adopted the proposal to dissuade investors from supporting a hostile takeover bid by rival Xerox Holdings Corp., which eventually dropped its effort March 31, citing economic uncertainty caused by the pandemic. HP Chief Executive Officer Enrique Lores has sought to shore up the print division he once ran because of its traditional role fueling the company’s profitability.HP reported fiscal second-quarter profit, excluding some expenses, of 51 cents per share, exceeding analysts’ projections of 42 cents.“Driven by supply-chain disruptions, we saw an impact in several of our businesses,” Lores said in an interview. “They started in China, then they evolved into Southeast Asia. But we are back at full capacity.”Executives cautioned that the printing division would post worse results in the current period ending in July than in the previous quarter, but revenue should improve over the course of the period. The company said it is ahead of its target to cut $1.2 billion of expenses by 2022, including by trimming employees’ salaries. HP expects to spend more money on the supply chain and logistics efforts in the current period, executives said on the call.The stock dropped to a low of $16.12 in extended trading after closing at $17.12 in New York. Shares have declined 17% this year.Revenue from personal computers and related systems decreased 7% to $8.3 billion in the period, with declines across laptops, desktops and workstations. Laptop demand held up the best due to more people buying computers to work and learn from home.Sales in the printing division fell 19% to $4.15 billion, with ink supplies dropping 15%. Consumer hardware revenue declined 16% and commercial devices decreased 31%.(Updates with executive comments starting in the third paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • HP (HPQ) Tops Q2 Earnings Estimates

    HP (HPQ) Tops Q2 Earnings Estimates

    HP (HPQ) delivered earnings and revenue surprises of 15.91% and -1.84%, respectively, for the quarter ended April 2020. Do the numbers hold clues to what lies ahead for the stock?

  • HP crushes earnings estimates on work-from-home PC demand — top exec says 'we are undervalued'
    Yahoo Finance

    HP crushes earnings estimates on work-from-home PC demand — top exec says 'we are undervalued'

    Yahoo Finance catches up with HP's CEO Enrique Lores fresh off its second fiscal quarter earnings report.

  • The Zacks Analyst Blog Highlights: NIKE, Workday, Allstate, Synopsys and HP

    The Zacks Analyst Blog Highlights: NIKE, Workday, Allstate, Synopsys and HP

    The Zacks Analyst Blog Highlights: NIKE, Workday, Allstate, Synopsys and HP

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