HP's Q3 Beats Street, Gives Solid Look Ahead At Q4 (HPQ)

Another beat and raise from Mark Hurd’s HP: The PC giant posted better-than-expected Q3 sales and profits, and said Q4 would also be strong. Also reassuring: Unlike most tech companies, there’s no language in HP’s release about a weak economy, economic climate, etc. Shares jumped 2.7% after hours to $44.90.

Especially strong: HP’s notebook sales, which grew 26% year-over-year, blade servers, which grew 66%, and storage, which grew 16%. Especially weak: Consumer printing and imaging hardware, which dropped 14% year-over-year.

Key Stats:

Revenue: $28.0 billion vs. $27.4 billion consensus
EPS: $0.86 vs. $0.83 consensus

Q4 Guidance:

Revenue: $30.25 billion midpoint vs. $30.22 billion consensus
EPS: $1.02 midpoint vs. $1.00 consensus

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