So, did HPQ meet First Call expectations or not? HPQ reported earnings in such a way where they either came in under or exceeded First Call estimates. From early this morning, before earnings:
Analysts polled by Thomson First Call expect the PC hardware giant to report earnings of 44 cents per share on revenue of $22.55 billion. Last year, HP reported first-quarter earnings of 37 cents per share on revenue of $21.45 billion. Prudential Equity Group said yesterday channel checks indicate strong quarterly results with revenue upside of $150 million to $200 million and earnings-per-share upside of 1 cent to 2 cents. "On the heels of IBM's (nyse: IBM - news - people ) fourth-quarter disappointment and Dell's (nasdaq: DELL - news - people ) recent execution missteps, we believe that HP's first-quarter results and second-quarter guidance will be well received by investors, and the stock should react favorably." The firm maintained an "overweight' rating on the stock.
forbes.com
PALO ALTO, Calif.--(BUSINESS WIRE)--Feb. 15, 2006--HP (NYSE:HPQ - News; Nasdaq:HPQ - News):
Net revenue of $22.7 billion, up 6% year-over-year, or 8% in constant currency
Non-GAAP operating profit of $1.7 billion, $0.48 earnings per share
GAAP operating profit of $1.5 billion, $0.42 earnings per share
Cash flow from operations of $1.8 billion
HP (NYSE:HPQ - News; Nasdaq:HPQ - News) today reported financial results for its first fiscal quarter ended Jan. 31, 2006, with net revenue of $22.7 billion, an increase of 6% year-over-year, or 8% in constant currency. Non-GAAP operating profit(1) was $1.7 billion, with non-GAAP diluted earnings per share (EPS)(1) of $0.48 (includes stock based compensation expense), up from $0.37 in the prior-year period. Non-GAAP financial information for the first quarter excludes $166 million of adjustments on an after-tax basis, or $0.06 per diluted share, related primarily to amortization of purchased intangibles, and in-process research and development-related costs. GAAP operating profit was $1.5 billion and GAAP diluted EPS was $0.42 per share, up from $0.32 in the prior-year period...
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