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%.
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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."