HP Issues Strong Outlook For Q4, FY21
Technology company HP Inc. (HPQ) on Thursday issued a financial outlook for the fourth quarter and full year 2021, which is expected to beat Wall Street’s current estimates.
In the fourth quarter, the company expects earnings per share in the range of $0.82 to $0.88 and adjusted earnings per share between $0.84 and $0.90. On average, 16 analysts polled by Thomson Reuters expect the company to post earnings per share of $0.81. Analysts’ estimates typically exclude special items.
For fiscal 2021, the company expects earnings per share in the range of $3.56 to $3.62 and and adjusted earnings per share between $3.69 and $3.75. On average, 19 analysts expect the company to post earnings of $3.49 per share in full year 2021.
The company reported a profit for its third quarter that increased from the same period last year. The company’s bottom line totaled $1.1 billion, or $0.92 per share. This compares with $0.7 billion, or $0.52 per share, in last year’s third quarter.
Excluding items, HP Inc. reported adjusted earnings of $1.2 billion or $1.00 per share for the period. Analysts had expected the company to earn $0.84 per share. The company’s revenue for the quarter rose 7.0% to $15.3 billion from $14.3 billion last year while analysts were looking for revenues of $15.9 billion.