HP Exceeds Fourth-Quarter Sales Projections on Strong PC Demand
Photographer: David Paul Morris/Bloomberg
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HP Inc. reported quarterly revenue that exceeded analysts’ projections, helped by a better supply of components to meet rising corporate demand for its personal computers. The shares surged in extended trading.
Revenue gained 9% to $16.7 billion in the fourth quarter, which ended Oct. 31, the Palo Alto, California-based company said Tuesday in a statement. Analysts, on average, projected $15.4 billion, according to data compiled by Bloomberg. Profit, excluding some items, was 94 cents a share, compared with an average estimate of 88 cents.