HP (HPQ) Lags Q1 Earnings and Revenue Estimates

Core Viewpoint - HP reported quarterly earnings of $0.74 per share, missing the Zacks Consensus Estimate of $0.75 per share, and down from $0.81 per share a year ago, indicating a -1.33% earnings surprise [1] - The company posted revenues of $13.5 billion for the quarter, slightly missing the Zacks Consensus Estimate by 0.01%, but up from $13.19 billion year-over-year [2] Financial Performance - Over the last four quarters, HP has surpassed consensus EPS estimates only once [2] - The company has topped consensus revenue estimates two times over the last four quarters [2] - The current consensus EPS estimate for the upcoming quarter is $0.85 on revenues of $13.08 billion, and for the current fiscal year, it is $3.57 on revenues of $55.09 billion [7] Market Performance - HP shares have increased approximately 3.7% since the beginning of the year, outperforming the S&P 500's gain of 1.3% [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating expectations of outperforming the market in the near future [6] Industry Outlook - The Computer - Micro Computers industry is currently in the top 17% of over 250 Zacks industries, suggesting a favorable outlook for stocks within this sector [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact HP's stock performance [5]