HP Inc. Q1 Profit Increases, beats estimates

(RTTNews) - HP Inc. (HPQ) reported a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $1.09 billion, or $0.99 per share. This compares with $1.07 billion, or $0.83 per share, in last year's first quarter.

Excluding items, HP Inc. reported adjusted earnings of $1.20 billion or $1.10 per share for the period.

Analysts on average had expected the company to earn $1.02 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 8.8% to $17.03 billion from $15.65 billion last year.

HP Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $1.09 Bln. vs. $1.07 Bln. last year. -EPS (Q1): $0.99 vs. $0.83 last year. -Analyst Estimate: $1.02 -Revenue (Q1): $17.03 Bln vs. $15.65 Bln last year.

-Guidance: Next quarter EPS guidance: $1.02 to $1.08 Full year EPS guidance: $4.18 to $4.38