HP will report its fiscal second-quarter, 2015, earnings after market close on Thursday and we’re covering it live.
The news isn’t expected to be particularly good when it comes to growth.
According to Yahoo Finance, analysts expect:
- $US25.63 billion in revenue, a 6% decline over last year.
- Non-GAAP earnings per share of $US0.86, down $US.02 from last year.
We also expect to hear an update on HP’s progress to split itself into two enormous companies, the largest corporate split in history.
Last quarter, HP revealed that the split is on track to occur in November, will cost at least $US2 billion, and said more jobs cuts are likely.
We may also hear more colour on the deal HP confirmed today that it was selling 51% stake of its Chinese networking unit, H3C Technologies, to Chinese firm Tsinghua Holdings, as well as a stake in its Chinese server, storage, and IT services units for $US2.3 billion.
The Chinese government is pressuring businesses to buy tech from Chinese companies, and this deal could help HP capture more of the Chinese market.
We’ll update this post once the earings come out.