HP To Report Double Digit Fall In Earnings

2013-08-20 09:15:44

Published on 2013-08-20 09:15:44

HP is expected to report a double digit drop in earnings later this month.

Analysts polled by Thomson Reuters claim that the business will earn 87 cents a share for the third quarter of this year, implying a 13 per cent decline from the $1 (64p) earned last year.

The business has beaten consensus in all of the past four quarters, including positive surprises in the range of 1.8 to 15.5 per cent.

For the third quarter of fiscal 2013, HP expects non-GAAP earnings of 84 to 87 cents a share, along with a GAAP EPS of 56 to 59 cents.

Quarterly sales are set to drop for the seventh quarter in a row, with the decline expected to be 8.10 per cent as a result of the weak PC market.

HP will face up against a number of competitors in the coming weeks, including Epson, Oki and Canon, all of which will be aiming to collect a greater market share in the coming weeks.

Posted by Canzil Ahmed

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