HPQ - HewlettPackard Company - Page 16
PC and printer maker Hewlett-Packard Company late Wednesday posted a 44% decline in fourth quarter earnings, hurt by one-time items, and its first quarter outlook fell short of Wall Street expectations.
The Palo Alto-based company reported fourth quarter net income of $1.47 billion, or 73 cents per share, compared with $2.6 billion, or $1.17 per share, in the year-ago period. Excluding one-time items, adjusted profit was 92 cents per share.
Revenue fell 7% from last year to $30 billion.
On average, Wall Street analysts expected a smaller profit of 87 cents per share, albeit on higher revenue of $30.7 billion.
Looking ahead, H-P forecast current first quarter earnings to range from 88 to 91 cents per share, which would miss analyst estimates for 95 cents.
Hewlett-Packard shares fell $1.11, or -3.8%, in premarket trading Thursday.
Trading is very strange, even now in AHT, I did the same thing a while back, bought in when the earnings were bad and it dropped to $27, sold later that day for the same PPS after getting bored
Some new products anounced today and the stock dropped over 3%.