The computer and printer maker reported non-GAAP earnings per share of 62 cents on revenue of $15.3 billion, "excluding after tax adjustments of $167 million, or $0.13 per diluted share, related to restructuring and other charges," the company said in a release.
HP had been expected to report earnings of 52 cents a share, on sales of $14.6 billion, based on a FactSet survey of 15 analysts.
In the same period a year ago, the company posted earnings of 60 cents a share on sales of $15.4 billion. It reported net income of $1.2 billion.
The company had offered guidance of 50 cents a share to 54 cents a share on Aug. 28. Shares had risen about 3% since then.
“We had record unit shipments in the quarter, reflecting the important role HP technology is playing in the lives of our customers," said Enrique Lores, president and CEO of HP, in a statement. "Our results give us great confidence in our ability to drive long-term growth and shareholder value in 2021 and beyond.”
The stay-at-home economy drove consumer demand during the quarter, the company said. "Consumer net revenue increased 24% and commercial net revenue decreased 12%. Total units were up 7% with notebook units up 25% and desktop units down 31%," HP said in the release.
In addition to earnings, HP announced a quarterly dividend of 19.38 cents a share, up 10%, payable on Jan. 6, 2021.
HP estimated fiscal first-quarter non-GAAP earnings of 64 cents to 70 cents a share, excluding 6 cents a share in charges related to restructuring, acquisitions, benefit plans and other items, the company said.
Analysts had been forecasting fiscal first-quarter earnings of 54 cents a share, on sales of $14.1 billion, according to FactSet.
For the year, analysts project revenue of $56 billion.
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HP shares rose $1.18, or 5.4%, to $22.93 in after-hours action.