Hewlett-Packard Co., or HP (HPQ) Wednesday, reported second-quarter profit of $1.1 billion or $0.55 per share, down from $1.6 billion or $0.80 per share in the comparable quarter.
Adjusted earnings for the quarter was $1.7 billion or $0.87 per share. On average, 29 analysts polled by Thomson Reuters expected the company to earn $0.81 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues decreased 10 percent to $27.6 billion from $30.7 billion last year. Analysts expected revenues of $28.12 billion.
Looking ahead to the third quarter, HP has forecast earnings in the range of $0.56 to $0.59 per share, with adjusted earnings in the order of $0.84 to $0.87 per share. Analysts currently expect the company to earn $0.84 per share for the third quarter.
For the fiscal year 2013, the company has raised its earnings target to a range of $2.50 to $2.60 per share from previous guidance range of $2.30 to $2.50 per share.
Adjusted earnings is currently projected in a range of $3.50 to $3.60 per share, up from $3.40 to $3.60 per share announced previously. Analysts currently expect full-year earnings of $3.49 per share.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.