HP Inc. Q2 Profit Increases, beats estimates

(RTTNews) - HP Inc. (HPQ) reported a profit for its second quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $1.1 billion, or $1.07 per share. This compares with $1.0 billion, or $0.94 per share, in last year's second quarter.

Excluding items, HP Inc. reported adjusted earnings of $0.8 billion or $0.80 per share for the period.

Analysts on average had expected the company to earn $0.76 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 21.8% to $12.9 billion from $16.5 billion last year.

HP Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $1.1 Bln. vs. $1.0 Bln. last year. -EPS (Q2): $1.07 vs. $0.94 last year. -Analyst Estimate: $0.76 -Revenue (Q2): $12.9 Bln vs. $16.5 Bln last year.

-Guidance: Next quarter EPS guidance: $0.81 to $0.91 Full year EPS guidance: $3.30 to $3.50