HP's Sales Top Estimates on Holiday Demand, Defying PC Doldrums
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HP Inc., the world’s largest personal-computer maker, topped analysts’ revenue estimates with strong computer and printer sales during the holiday shopping quarter, maintaining its momentum even as the industry stagnates.
The Palo Alto, California-based company notched its sixth consecutive quarter of revenue growth, buoyed by higher sales across all product lines in the period that ended Jan. 31, according to a statement Thursday. Sales were $14.5 billion, a 14 percent jump from a year earlier. Analysts on average had estimated fiscal first-quarter revenue of $13.5 billion, according to data compiled by Bloomberg. The shares jumped as much as 9.3 percent in late trading.