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HP Rises 10% On Strong Quarterly Results

Tech company HP Inc. (HPQ) saw its shares jump 10% after reporting a huge increase in net income for the fourth quarter.

HP reported earnings of $3.1 billion or $2.71 per share, up from $0.7 billion or $0.49 per share in the same quarter last year. On an adjusted basis, the earnings were $1.1 billion or $0.94 earrings per share, up from $0.8 billion or $0.62 earnings per share in the last term. On average, 13 analysts expected the earnings to be $0.95 per share.

Following the report, the shares have been trading hands at $35.57, up $03.38 or 10.50% since the previous close at $32.19. The stock opened at $34.00 in the morning. In the 52-week period, the shares have ranged between $21.80 and $36.20 per share.

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