HP Inc. expected to announce Q4 earnings with analysts projecting $0.93 EPS, stock outperforming S&P 500.

From Nasdaq, Inc.: 2024-10-30 07:46:32

HP Inc. is set to announce its fourth-quarter earnings on Nov. 19, with analysts expecting a profit of $0.93 per share, up 3.3% from the year-ago quarter. For the full year, EPS is projected to be $3.39, increasing to $3.61 in fiscal 2025. HPQ stock has outperformed the S&P 500 but underperformed the Technology Select Sector SPDR Fund.

HP has seen strong performance due to increased demand for home office hardware during the pandemic. The company has made strategic changes, focusing on subscription services and new products for growing markets like hybrid work and gaming. HP’s collaborations with QUALCOMM, Intel, and AMD are driving advancements in AI-powered computing. In Q3, HPQ reported revenue of $13.5 billion, with adjusted EPS declining 3.6% year over year to $0.83. For Q4, adjusted EPS is expected to be between $0.89 and $0.99, with full-year adjusted EPS estimated to be between $3.35 and $3.45.

Analysts have a cautious consensus opinion on HPQ stock, with a “Hold” rating overall. While the stock currently trades above its mean price target of $35.69, the Street-high price target of $42 suggests an upside potential of 13.3%.



Read more at Nasdaq, Inc.: HP Earnings Preview: What to Expect