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HP's Q1 results top estimates fuelled by surprising PC business spurt

February 21, 2014


Washington, Feb. 21 (ANI): Hewlett-Packard has reportedly surpassed its expected first quarter earnings and revenue as the PC business delivered sales growth amid enterprise demand.

The company's first quarter earnings reached 1.4 billion dollars or 74 cents a share, on revenue of 28.2 billion dollars, against Wall Street's prediction of 84 cents a share on revenue of $27.2 billion.

According to Cnet, on a constant currency basis, HP's revenue was up slightly, while non-GAAP earnings for the first quarter were 90 cents a share.

Meanwhile, the company said that it expected a second quarter non-GAAP earnings of 85 cents a share to 89 cents a share and predicted non-GAAP earnings of 3.60 dollars to 3.75 dollars against Wall Street's estimated 89 cents a share and 3.67 dollars a share respectively. (ANI)

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Source: Asian News International

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