HP Q1 Revenues and Net Fall, but Beat Estimates

Hewlett-Packard (NYSE: HPQ  ) has reported its fiscal Q1 2013 results. For the quarter, the company's net revenue slumped 6% on a year-over-year basis, to $28.4 billion. Non-GAAP earnings fell 12% over the same time span, to $1.6 billion ($0.82 per diluted share), from Q1 2012's $1.8 billion ($0.92).

In spite of the declines, those numbers still beat analyst expectations. On average, they projected top line of $27.8 billion, and EPS of $0.71.

CEO Meg Whitman attributed the better-than-anticipated results to "improved execution, improvement in our channel and go-to-market efforts and the impact of the restructuring program we introduced in May 2012."

HP also provided EPS guidance for current and future periods. It expects non-GAAP diluted earnings to come in at $0.80-$0.82 per share in its current quarter, and $3.40-$3.60 for the entirety of fiscal 2013.


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  • Report this Comment On February 21, 2013, at 11:50 PM, Doug504 wrote:

    I'm just wondering how many millions Whitman will earn because the company lost less money than "analysts" expected.

    Don't worry! Next year we lose even less money.

    Meg - get your bonus when HP turns a profit. Otherwise you are simply shifting the cost to shareholders and employees.

    PS: The consensus opinion of analysts on Wall Street is almost never correct. I'd guess the analysts estimates are wrong (either over or under) at least 70% of the time

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