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PALO ALTO, Calif. (AP) — PALO ALTO, Calif. (AP) — HP Inc. (HPQ) on Tuesday reported fiscal first-quarter net income of $487 million.
On a per-share basis, the Palo Alto, California-based company said it had profit of 49 cents. Earnings, adjusted for one-time gains and costs, came to 75 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.
The personal computer and printer maker posted revenue of $13.83 billion in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $14.13 billion.
For the current quarter ending in April, HP expects its per-share earnings to range from 73 cents to 83 cents. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.04.
The company expects full-year earnings in the range of $3.20 to $3.60 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a HPQ">Zacks stock report on HPQ at https://www.zacks.com/ap/HPQ