HP Q4 Profit Meets Estimate; Revenue Falls Short

(RTTNews) - Hewlett-Packard Co. (HPQ) reported net income for the fourth quarter of $1.33 billion or $0.70 per share, compared to $1.41 billion or $0.73 per share for the year-ago quarter.

Excluding items, adjusted net income for the fourth quarter was $2.01 billion or $1.06 per share, compared to $1.96 billion or $1.01 per share in the prior year quarter.

Net revenue for the fourth quarter fell 2% to $28.41 billion from $29.13 billion in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to earn $1.06 per share on revenue of $28.76 million for the fourth quarter. Analysts' estimates typically exclude special items.

Looking forward to the first quarter, the company forecasts earnings of $0.72 to $0.76 per share and adjusted earnings of $0.89 to $0.93 per share.

For the fiscal year 2015, the company continues to expect earnings of $3.23 to $3.43 per share and adjusted earnings of $3.83 to $4.03 per share.

Analysts currently expect the company to earn $0.93 per share for the first quarter and $3.95 per share for the fiscal year 2015.