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Hp reported the second quarter results which beat the estimates of analysts for income but missed on income and advice, partly due to the president Donald Trump radical prices. Actions have flowed 15% after the report.
Here is how the company did in relation to the estimates of analysts compiled by Lseg::
- Profit by action: 71 cents adjusted against 80 cents expected
- Income: $ 13.22 billion against $ 13.14 billion expected
The quarter income increased by 3.3%, compared to $ 12.8 billion in the same period last year. HP declared a net profit of $ 406 million, or 42 cents per share, against 607 million dollars, or 61 cents per share, a year ago.
For his third quarter, HP said that he was planning to report an adjusted benefit from 68 cents to 80 cents per share, missing the average estimate of the analyst of 90 cents, according to LSEG. The adjusted benefit of the full year will be in the range of $ 3 to $ 3.30 per share, while analysts expected $ 3.49 per share.
HP said its prospects “reflect the additional cost brought about by current American prices”, as well as associated attenuations.
“Although the results of the quarter were affected by a dynamic regulatory environment, we responded quickly to accelerate the expansion of our manufacturing footprint and further reduce our cost structure,” said HP CEO, Enrique Lores, in a press release.
Lores told Steve Kovach of CNBC that HP increased production in Vietnam, Thailand, India, Mexico and the United States, Lores said that the company expected almost all of its products sold in North America to be built outside China.
“Thanks to our actions, we expect to fully alleviate the increase in trade -related costs by the fourth quarter,” said Lores in the interview.
HP will hold its quarterly call with investors at 5 p.m. he.
