After the closing bell rang today, Hewlett-Packard Company (HPQ
HPQ Earnings in Brief
The company hauled in EPS of $0.90, a full 6 cents above analyst expectations of $0.84. Revenues also came in better than expected at $28.2 billion; the Street expected to see revenues at $27.19 billion. Cash flow from operations was a healthy $3 billion, up 17% from the same period one year ago. The company returned a total of $843 million to shareholders in the form of dividends and share repurchases.CEO Commentary
Meg Whitman, President and CEO of Hewlett-Packard, had this to say about the recent quarter: “HP is in a stronger position today than we’ve been in quite some time. The progress we’re making is reflected in growth across several parts of our portfolio, the growing strength of our balance sheet, and the strong support we’re receiving from customers and channel partners. Innovation is igniting our comeback, and at a time when many of our competitors are confronting new challenges, two years of turnaround work is setting us up for an exciting future.”
HPQ’s Dividend
No mention was made of a dividend increase, though the company has raised its payout for three consecutive years. The stock will go ex-dividend on 3/10/2014 and will pay out that dividend on 4/2/2014.
Stock Performance
HPQ initially jumped 0.6% on the earnings news, but as lackluster guidance hit the street, things quickly headed southas the stock was down as much as 0.7%.
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