Why Hewlett-Packard (HPQ) Stock Is Up Today

NEW YORK (TheStreet) -- Hewlett-Packard (HPQ) is gaining 4.8% to $36.80 Thursday following its positive fiscal third quarter results.

For the fiscal third quarter the PC maker reported earnings of 89 cents a share, in line with the Thomson Reuters consensus estimate. Revenue grew 1.3% year-over-year to $27.58 billion for the quarter, above analysts' estimates of $27.01 billion.

HP said that PC sales grew 12% from the year-ago quarter to $8.6 billion, better than the 7% growth in the second quarter. Commercial PC sales grew 14% and consumer PC sales grew 8%.

Must Read: Warren Buffett's 25 Favorite Stocks

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Looking to the fourth quarter HP expects earnings of $1.05 to $1.07 a share, in line with analysts' estimates of $1.05 a share for the quarter.

TheStreet Ratings team rates HEWLETT-PACKARD CO as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:

"We rate HEWLETT-PACKARD CO (HPQ) a HOLD. The primary factors that have impacted our rating are mixed ? some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow and poor profit margins."

If you liked this article you might like

Hewlett Packard Enterprise Becomes the Latest Tech Titan to Slash Jobs

Microsoft's New Xbox One X Shows It's Done Trying to Please Everyone

Hewlett Packard Enterprise's Meg Whitman Joins Dropbox

Carly Fiorina Will Not Run for Senate in 2018

Carly Fiorina on Not Running for Senate, Cryptocurrency and the Opioid Epidemic