Hewlett-Packard Co. (NYSE: HPQ) posted earnings of $0.86 EPS and $28 Billion revenues after today’s close. First Call had estimates at $0.83 EPS on $27.41 Billion in revenues. As far as guidance for next quarter (fiscal Q4), the PC and IT giant put earnings at $1.01 to $1.03 EPS and $30.2 to $30.3 Billion in revenues. Estimates for the October quarter (also the year-end) are expected at $1.00 EPS on $30.22 Billion in revenues. Those estimates do not reflect any addition of EDS to the numbers.
On overall metrics, H-P generated $3.4 billion in operating cash flows,and ended the quarter with $14.9 billion in cash and equivalents.Inventory ended at $8.2 billion and down 3 days over the prior year,while its accounts receivable of $13.8 billion was up 2 days over theprior-year period. HP spent $1.6 billion cash during the third quarterto repurchase about 34 million shares of common stock.
H-P closed down 2% at $43.69, and shares are trading around $44.80 after the close.
Jon C. Ogg
August 19, 2008
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