HP Inc. Q1 Profit Drops, Inline With Estimates

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

The company's bottom line came in at $565 million, or $0.59 per share. This compares with $622 million, or $0.62 per share, last year.

Excluding items, HP Inc. reported adjusted earnings of $704 million or $0.74 per share for the period.

Analysts on average had expected the company to earn $0.74 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 2.4% to $13.504 billion from $13.185 billion last year.

HP Inc. earnings at a glance (GAAP) :

-Earnings: $565 Mln. vs. $622 Mln. last year. -EPS: $0.59 vs. $0.62 last year. -Revenue: $13.504 Bln vs. $13.185 Bln last year.

-Guidance: Next quarter EPS guidance: $0.75 to $0.85 Full year EPS guidance: $3.45 to $3.75