HP earnings preview: what to expect from Q2 report

[MongiIG]

HP, all-sessions on the IG platform, is reporting its fiscal second quarter (Q2) earnings and revenue after tonight's US closing bell.

 

 Jeremy Naylor | Analyst, London | Publication date: Tuesday 30 May 2023 

The Street forecasts earnings of 76 cents per share, which would be a drop of about 29% from the same quarter a year ago. Revenue is expected to decline by 21% year-on-year to just over $13 billion, a performance that reflects the continuing fall in demand for PCs.

Shares of the personal computer and printer maker have lost about 13% of their value over the past 12 months. But so far this year the stock has gained about 15% thanks to two consecutive better-than-expected quarterly reports.

(Video Transcript)

HP earnings

HP is expected to report after the closing bell tonight. The Street forecasts earnings of $0.76 per share, which will be a drop of around 29% from the same quarter this time last year. Revenue is expected to drop by 21% year-on-year to just over $13 billion, a performance that reflects a continuing fall in PC demand.

Now Hewlett Packard is all-sessions on the IG platform. The personal computer and printer maker's shares have lost about 13% of their value of the last 12 months so far this year.

Share price chart

If we have a look at the chart here for Hewlett Packard, you can see as of Friday's all-sessions close it beat the previous high, 3116 closing at 3136, the highest close that we've seen there in this market since the 29th of August last year. It's 15% up so far this year, thanks to two consecutive better than expected quarterly reports.

Now, its spinoff company, HPE, which is Hewlett Packard Enterprise. It's not all-sessions on the platform, and a very different fate over the past 12 months, broadly unchanged over the period. The stock has lost around 7% in the last five months, despite beating estimates and raising forecasts three months ago.

HPE also releasing its quarterly earnings tonight after the bell. Analysts anticipate a 9% rise in its earnings per share, $0.49. We've got a chart showing you what's expected. Revenue is also expected to rise by 7% to $7.31 billion. That stock is not all-sessions on the platform. You can trade all-sessions on Hewlett Packard after the bell on its figures.