PALO ALTO, Calif. (AP) _ HP Inc. (HPQ) on Tuesday reported fiscal fourth-quarter profit of $668 million.
On a per-share basis, the Palo Alto, California-based company said it had profit of 49 cents. Earnings, adjusted for one-time gains and costs, came to 62 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.
The personal computer and printer maker posted revenue of $15.26 billion in the period.
For the current quarter ending in February, HP expects its per-share earnings to range from 64 cents to 70 cents.
HP shares have risen nearly 6% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 13%.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HPQ at https://www.zacks.com/ap/HPQ
The Associated Press