HP Inc. Q2 Profit Decreases, but beats estimates

(RTTNews) - HP Inc. (HPQ) announced a profit for second quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $1.00 billion, or $0.94 per share. This compares with $1.23 billion, or $0.98 per share, in last year's second quarter.

Excluding items, HP Inc. reported adjusted earnings of $1.15 billion or $1.08 per share for the period.

Analysts on average had expected the company to earn $1.05 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.8% to $16.49 billion from $15.88 billion last year.

HP Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $1.00 Bln. vs. $1.23 Bln. last year. -EPS (Q2): $0.94 vs. $0.98 last year. -Analyst Estimates: $1.05 -Revenue (Q2): $16.49 Bln vs. $15.88 Bln last year.

-Guidance: Next quarter EPS guidance: $1.03 to $1.08 Full year EPS guidance: $4.24 to $4.38