Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Images Sopa | LightRockket | Gets the image
HP The results of the second quarter are reported that won the income analysts but missed profits and recommendations, partly thanks to the president Donald Trump sweeping tariffs. After the report, the shares sank 15%.
Here’s how the company made estimates of analysts compiled Lseg:
- Profit per share: 71 cents, adjusted against 80 cents expected
- Income: 13.22 billion dollars are expected against 13.14 billion
Revenue per quarter increased by 3.3% compared to $ 12.8 billion over the same period last year. HP reported a $ 406 million net profit, or $ 42 cents per share, which decreased a year ago compared to 607 million, or 61 cents per share.
In the third quarter, HP said she expects to report a corrected profit from 68 to 80 cents per share, having missed an average analytics estimate of 90 cents, LSEG reports. The earned profit for the full year will be from $ 3 to $ 3.30 per share, while analysts were waiting for $ 3.49 per share.
HP noted that his forecast “reflects the additional costs caused by the current US tariffs” as well as the associated mitigation.
“While the results in the quarter were exposed to the dynamic regulatory environment, we quickly responded to accelerate the expansion of our production mark and further reduce the structure of our cost,” the CEO of HP Enrique Lores said in a statement.
Lores told Steve Kovach CNBC that HP has increased production in Vietnam, Thailand, India, Mexico and the US by the end of June, Lores said the company expected that almost all its products sold in North America would be built outside China.
“Thanks to our actions, we expect that the cost of the Q4 trading costs will mitigate in full,” Lorez said in an interview.
HP will hold your quarterly call with investors at 5pm.
