Zacks.com Highlights: Earnings Preview for Hewlett Packard
CHICAGO, Nov. 20, 2011 /PRNewswire/ — Zacks.com announces an Earnings Preview featured in the Industry Outlook. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. The stock recently featured in the Earnings Preview include: Hewlett Packard Company (HPQ – Analyst Report).
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Here are highlights from Friday’s Earnings Preview:
Third Quarter Overview
Hewlett Packard Company (HPQ) reported third quarter 2011 earnings per share (EPS) of $1.10, exceeding the Zacks Consensus Estimate. However, revenue of $31.2 billion inched up 1.0% on a year-over-year basis. Hewlett Packard Company (HPQ) witnessed revenue growth across most of its business segments, except the Personal Systems Group (PSG) and Imaging and Printing Group (IPG). Moreover, Hewlett Packard Company (HPQ) is undertaking several constructive steps to emerge as the leader in the evolving information economy.
Moreover, Hewlett Packard Company (HPQ) announced that its board of directors has authorized the exploration of strategic alternatives for Hewlett Packard Company (HPQ)’s Personal Systems Group. HP will also consider a broad range of options including full or partial separation of PSG from Hewlett Packard Company (HPQ) through a spin-off or other transaction.
Revenue for Hewlett Packard Company (HPQ) from the overseas markets accounted for 65.0% of the total revenue in the reported quarter. The BRIC countries (Brazil, Russia, India and China) generated revenues of $3.7 billion, up 12.0% year over year and contributed 12.0% to the total revenue.
Diluted Hewlett Packard Company (HPQ) earnings per share on a GAAP basis were 93 cents in the third quarter compared with 75 cents in the prior-year quarter. Non-GAAP EPS stood at $1.10, compared with $1.08 in the prior-year quarter.
For the fourth quarter of fiscal 2011, Hewlett Packard Company (HPQ) estimates revenues in the range of $32.1 billion to $32.5 billion. Diluted EPS on a GAAP basis is expected in the range of 44 cents to 55 cents, while non-GAAP diluted EPS is projected at between $1.12 and $1.16. For fiscal 2011, Hewlett Packard Company (HPQ) expects revenues in the range $127.2 billion to $127.6 billion. GAAP diluted EPS is expected in the $3.59 to $3.70 range, while diluted EPS on a non-GAAP basis is estimated at between $4.82 and $4.86.
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