HP Earnings: HPQ Stock Falls 4% on Weak Q3 Guidance

HPQ also missed Q2 revenue estimates

HP (NYSE:HPQ) earnings for  fiscal second quarter of 2020 have HPQ stock falling after-hours Wednesday. That comes despite it reporting adjusted earnings per share (EPS) of 51 cents. This is better than Wall Street’s estimate of 45 cents. However, its revenue of $12.47 billion is below analysts’ estimates of $12.85 billion.

Source: Tomasz Wozniak / Shutterstock.com

Let’s take a more thorough look at the most recent HP earnings report below.

Enrique Lores, president and CEO of HP, said this about the fiscal Q2 earnings:

“The strength of HP’s diversified portfolio, go-to-market capabilities and balance sheet position us well to navigate macroeconomic challenges and drive long-term value creation. We are seeing strong demand from our customers in notebook PC orders and Instant Ink subscriptions, as well as growing interest in 3D printing and digital manufacturing in key verticals such as healthcare.”

HP also includes an outlook for fiscal Q3 2020 in the earnings report. It expects adjusted EPS to range from 39 cents to 45 cents. That doesn’t look good next to Wall Street’s adjusted EPS estimate of 49 cents.

HPQ stock was down 4.1% after-hours Wednesday.

As of this writing, William White did not hold a position in any of the aforementioned securities.