HP Inc. Q1 Profit Drops, Inline With Estimates

(RTTNews) - HP Inc. (HPQ) announced a profit for first quarter that decreased from the same period last year in line with the Street estimates.

The company's bottom line totaled $0.5 million, or $0.49 per share. This compares with $1.1 million, or $0.99 per share, in last year's first quarter.

Excluding items, HP Inc. reported adjusted earnings of $0.7 million or $0.75 per share for the period.

Analysts on average had expected the company to earn $0.75 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 18.8% to $13.8 billion from $17.0 billion last year.

HP Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $0.5 Mln. vs. $1.1 Mln. last year. -EPS (Q1): $0.49 vs. $0.99 last year. -Analyst Estimates: $0.75 -Revenue (Q1): $13.8 Bln vs. $17.0 Bln last year.

-Guidance: Next quarter EPS guidance: $0.73 to $0.83 Full year EPS guidance: $3.20 to $3.60