Proactive Investors - HP Inc (NYSE:HPQ) is expected to report higher profits but lower revenues when it hands down its fourth quarter earnings report after the closing bell in New York on Tuesday, November 21.
For the quarter ended October 31, 2023, the IT company that sells hardware and software expects to report adjusted earnings per share (EPS) in the range of $0.85 to $0.97, compared to adjusted EPS of $0.85 in the year-ago quarter.
Wall Street analysts expect HP to report adjusted EPS slightly below the midpoint of its guidance at $0.90, a 5.9% increase over the year-ago quarter.
Revenue, however, is expected to decline by 7.6% year-over-year to $13.7 billion.
For fiscal 2023, analysts expect earnings per share of $3.30, in line with HP’s guidance range of $3.23 to $3.35.
Revenue is pegged at $53.6 billion, which would represent a decline from fiscal 2022 of 14.9%.
HP shares traded down 1.4% at about US$28 on Thursday afternoon. It has gained 4.7% in the year to date.