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HP sales up 19 percent, earnings slightly down

Posted on Monday, November 24 2008 @ 23:01:12 CET by

HP announced its fiscal fourth-quarter financial results. Revenue was up 19 percent to $33.6 billion, while net income dropped to $2.1 billion from $2.16 billion in the same period a year ago.
H-P said that excluding special items, earnings for the quarter were $1.03 a share. Analysts polled by FactSet Research estimated H-P would post earnings excluding special items of $1.08 a share, and $33.6 billion in revenue.

H-P had taken much of the drama out of its earnings release by previewing results last week, when it said it expected to post earnings of 84 cents a share on $33.6 billion in revenue.

Shares of H-P fell were flat at $35.70 in late trading following the earnings announcement. For the first quarter of 2009, H-P said it expects earnings excluding special items to be between 93 and 95 cents a share, and revenue to be between $32 billion and $32.5 billion. Analysts have been estimating H-P would post earnings excluding special items of 97 cents a share in the first quarter, and $32.5 billion in revenue, according to FactSet.
More info at MarketWatch.



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