HP stock rose as much as 3% on Tuesday after the company showed acceleration in revenue growth in the fiscal fourth quarter and issued strong guidance.
Here’s how the company did:
- Earnings: Excluding certain items, 60 cents per share, vs. 58 cents per share as expected by analysts, according to Refinitiv.
- Revenue: $15.41 billion, vs. $15.25 billion as expected by analysts, according to Refinitiv.
HP’s revenue rose 0.3% on an annualized basis in the fourth quarter, which ended on Oct. 31, according to a statement. The results ended a spell of six quarters of slowing sequential revenue growth. Revenue grew 0.1% in the fiscal third quarter.
HP’s biggest business segment, Personal Systems, which…