sharply raised its earnings guidance Monday, citing strong management execution in the final quarter of Mark Hurd's reign.
The company expects to earn 16 cents a share in the first quarter, up from previous guidance of 2 cents to 5 cents a share. The Thomson First Call consensus estimate was for earnings of 5 cents a share.
NCR, the payment systems giant whose CEO left to run
in late March, expects to post $1.34 billion in first-quarter revenue. Analysts had been forecasting $1.35 billion.
"NCR's continued earnings momentum reflects our technology leadership in attractive markets, the strong execution by the management team in each of our business units and the success of our ongoing structural changes to improve the company's overall profitability," the company said in a release.
NCR's shares plunged 17% on the day Hurd's departure was announced, from $37.90 to $31.40, but have since partially recovered. In premarket Instinet trading, the stock was up $1.34, or 3.8%, to $36.