The Mercury News

MORE INSIDE

- The Associated Press Bloomberg News contribute­d to this report.

The HP Inc. unit posted a jump in revenue during the fourth quarter and earnings that met market expectatio­ns.

PALO ALTO >> Personal computer and printer maker HP Inc. posted a jump in revenue during the fourth quarter and earnings that met market expectatio­ns.

The Palo Alto-based company said fourthquar­ter earnings were $660 million, or 39 cents a share. Adjusted earnings were 44 cents per share, matching Wall Street forecasts, according to Zacks Investment Research.

Revenue rose 11 percent to $13.93 billion in the quarter, compared to the year-earlier period. Revenue from personal systems, including desktops and notebooks, was up 13 percent, while printing revenue, including hardware and supplies, rose 7 percent.

PC and printers make up the bulk of HP Inc.’s business since becoming a separate company when Hewlett Packard split in two in 2015.

“Our results demonstrat­e that HP is strong and getting stronger,” HP Inc. CEO Dion Weisler said in a statement.

HP Inc. said it expects earnings for the current quarter ending in February to range from 40 to 43 cents per share. Analysts are expecting 42 cents a share on average, according to FactSet.

Chief Financial Officer Catherine Lesjak acknowledg­ed in a conference call with analysts that the rapid growth rate of the past year may be hard to maintain. “The compares are tougher, we know that,” she said.

The shares fell about 6 percent in extended trading after closing at a record $22.46 in New York.

Newspapers in English

Newspapers from United States