HP Q3 revenue misses expectations at $15.3B

Thursday, 26. August 2021 22:10

Hewlett-Packard revealed its financial results for the third fiscal quarter of 2021 on Thursday marking a revenue of $15.3 billion, which is 7% higher than in the comparable period of last year, but still lower than analysts had estimated.

GAAP earnings per share rose by 77% year-on-year to $0.92 per share, while the operating income decreased by 34% to amount to $1.1 billion. Most of the net revenue, a total of 46%, was brought in from sales in North and South America, which in their turn grew by 12% from the same period of last year.

"We are performing while we are transforming our business models and service offerings to accelerate growth opportunities across our portfolio. The evolving hybrid world is driving innovation and market expansion for HP and we are well positioned to capitalize on trends in our markets," said Enrique Lores, HP President and CEO.

Following the report, HP stocks dropped by 2.06% to $28.45 per share in the after-hours trading at 4:21 pm ET.

Related Links: HP Inc.
Author:
Breaking the News / LH