HP results beat analyst forecasts

Elinor Mills CNET News.com

Published: 21 May 2008 08:15 BST

Strong sales in emerging markets boosted HP's second-quarter earnings to $2.2bn (£1.1bn), or 87 cents a share, up 24 percent from a year earlier.

Revenue for the quarter rose 11 percent to $28.3bn, the company said on Tuesday.

Those figures beat analyst estimates of earnings per share of 85 cents and revenue of $28.1bn, according to Thomson First Call.

Earnings excluding one-time items were $2.1bn, or 80 cents a share.

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HP forecast revenue for the third quarter to be around $27.3bn to $27.4bn and earnings per share excluding items to be 82 cents to 83 cents.

HP raised its full-year revenue forecast to between $114.2bn and $114.4bn, from previous guidance of $113.5bn to $114bn. Full-year per-share earnings excluding items are forecast to be $3.54 to $3.58.

Analysts were forecasting third-quarter earnings per share of 82 cents and revenue of $27.35bn, and full-year earnings per share of $3.53 and revenue of $114.2bn.

Credit: HP beats analyst estimates from CNET News.com