HP Inc. Q1 Profit Increases, Inline With Estimates

(RTTNews) - HP Inc. (HPQ) released a profit for its first quarter that increased from last year in line with the Street estimates.

The company's earnings totaled $622 million, or $0.62 per share. This compares with $469 million, or $0.47 per share, in last year's first quarter.

Excluding items, HP Inc. reported adjusted earnings of $808 million or $0.81 per share for the period.

Analysts on average had expected the company to earn $0.81 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 4.4% to $13.19 billion from $13.80 billion last year.

HP Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $622 Mln. vs. $469 Mln. last year. -EPS (Q1): $0.62 vs. $0.47 last year. -Analyst Estimate: $0.81 -Revenue (Q1): $13.19 Bln vs. $13.80 Bln last year.

-Guidance: Next quarter EPS guidance: $0.76 to $0.86 Full year EPS guidance: $3.25 to $3.65