Earnings Coverage - Hewlett-Packard

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Aug 28, 2014, 09:20 ET from Investor-Edge

LONDON, August 28, 2014 /PRNewswire/ --

Investor-Edge.com has issued free post-earnings coverage on Hewlett-Packard Company. (NYSE: HPQ). The company featured in the headlines on Wednesday, August 20, 2014 after reporting results for the third quarter ended July 31, 2014. For Q3 FY14, Hewlett-Packard Co.'s GAAP net revenue grew 1% Y-O-Y, while its GAAP net earnings fell by 29% Y-o-Y. Our free coverage report can be accessed at:


Earnings Overview  

For the third quarter ended July 31, 2014, Hewlett-Packard Co.'s net revenues increased to $27.59 billion, from $27.23 billion in Q3 FY13 and $27.31 billion in Q2 FY14. However, the company's Q3 FY14 GAAP diluted net EPS declined to $0.52 from $0.71 in the prior-year quarter and which is also below its previously provided guidance of $0.59 to $0.63 per share. Analysts from Bloomberg were anticipating revenues of $27.01 billion and GAAP diluted net EPS of $0.63 in Q3 FY14. The company's non-GAAP diluted net EPS increased 3% Y-o-Y to $0.89 from $0.86 in the prior-year period and remained within its previously provided outlook of $0.86 to $0.90 per share. Hewlett-Packard Co.'s Q3 FY14 non-GAAP net earnings and non-GAAP diluted net EPS exclude after-tax costs of $713 million and $0.37 per diluted share, respectively, related to restructuring charges, the amortization of intangible assets and acquisition-related charges. During Q3 FY14, the company's cash flow from operations increased 36% Y-o-Y to $3.6 billion from $2.7 billion in the previous year quarter. Further, Hewlett-Packard Co. exited the third quarter 2014 with $14.8 billion in gross cash. The free research on HPQ can be downloaded as in PDF format at:


Chairman, President and CEO of Hewlett-Packard Co., Meg Whitman expressed satisfaction at the company's progress and stated that in terms of business performance, the pipeline of innovation and the daily feedback from the customers and partners provides higher scope of strong turnaround.

In its outlook for Q4 FY14, the Palo Alto, California-based company expects non-GAAP diluted net EPS to be in the range of $1.03 to $1.07 and GAAP diluted net EPS to be in the range of $0.83 to $0.87. The above estimates exclude after-tax costs of approximately $0.20 per share, related primarily to restructuring charges and the amortization of intangible assets. Sign up and read the free analyst's notes on HPQ at:


For FY 14, the company is projecting non-GAAP diluted net EPS to be in the range of $3.70 to $3.74 and GAAP diluted net EPS to be in the range of $2.75 to $2.79, excluding the after-tax costs of approximately $0.95 per share, primarily related to restructuring charges and the amortization of intangible assets.

Stock Performance    

On Thursday, August 21, 2014, a day after the earnings release, Hewlett-Packard Co.'s shares surged 5.35% to end the session at $37.00. On the last close, Wednesday, August 27, 2014, the stock hit a new 52-week high of $38.20, before closing the session 0.87% higher at $38.16. A total of 9.72 million shares were traded, which was above its three months average volume of 9.62 million shares. Over the previous three trading sessions and in the last one month, the company's shares have advanced 3.58% and 7.71%, respectively. Further, since the start of this year, the stock has surged 36.38%. Hewlett-Packard Co.'s shares are trading above their 50-day and 200-day moving averages. The stock's 50-day moving average of $34.90 is greater than its 200-day moving average of $31.30. Moreover, the company's stock traded at a PE ratio 12.00 and has a Relative Strength Index (RSI) of 72.40. Visit Investor-Edge and access the latest research on HPQ at:


Sneak Peek to Corporate Insider Trading  

On August 01, 2014, Mr. Dion J. Weisler, Executive Vice President of Printing and Personal Systems Group at Hewlett-Packard Co., purchased 13,625 shares of the company, worth $479,464 at $35.19 per share. In addition, on August 22, 2014, Henry Gomez, Executive Vice President and Chief Marketing and Communications Officer at Hewlett-Packard Co., sold 14,597 shares for $540,089 at a price of $37.00 a share. Complimentary in-depth research on HPQ is available at:


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