NEW YORK, September 17, 2015 /PRNewswire/ --
ACI Association has initiated research coverage on
Hewlett-Packard Company (NYSE: HPQ). Select highlights from
the internally released reports are being made available to the
general public (included below), with access to the entirety of the
research available to new members.
Today, membership is open to readers on a complementary basis at
the following URL:
http://www.aciassociation.com/reports?keyword=HPQ
Highlights from our HPQ Report include:
- Q3 2015 financial results - In a press
release dated August 20, 2015,
Hewlett-Packard Company reported its Q3 2015 financial results. The
Company witnessed a drop of 8% Y-o-Y in GAAP net revenue to
$25.3 billion from $27.6 billion in Q3 2014. A next day report by
Reuters highlighted that analyst on average had expected the
Company to post revenues of $25.44
billion during the quarter. GAAP diluted net earnings per
share came in at $0.47 during the
quarter, down from $0.52 in the
prior-year period, below the Company's previously provided outlook
of $0.50 to $0.54 per share. Non-GAAP
diluted net earnings per share were $0.88, against the previously provided outlook of
$0.83 to $0.87 per share. As per the
Reuters report, analysts on average had expected a profit of
$0.85 cents per share.
- Personal Systems & Printing Segment
Review - Personal Systems revenues decreased 13.4% Y-o-Y to
$7.49 billion with a 3.0% operating
margin. Under which, Notebooks, Desktops and Workstations revenues
declined 8%, 20%, 12% on year-over year basis to $4.0 billion, $2.7
billion and $507 million,
respectively. Printing segment revenues were down 9% Y-o-Y to
$5.1 billion with a 17.8% operating
margin. The negative growth in printing segment revenues were also
influenced by revenue drop of 6%, 11% and 24% on YoY basis in
Supplies, Commercial Hardware and Consumer Hardware units.
- Other Segmental Performance - Enterprise Group revenue
was up 2% Y-o-Y to $7 billion, with a
13.0% operating margin, aided by Industry Standard Servers revenue
growth of 8%, Networking revenue growth of 22%, partially offset by
decrease in Storage revenues (down 2%), Business Critical Systems
(down 21%) and Technology Services (down 9%). Meanwhile, Enterprise
Services revenues dropped 11% Y-o-Y to $4.98
billion, with a 6.0% operating margin. Drop in Enterprise
Services revenues were impacted by a 7% decline in Application and
Business Services and a 13% decline in Infrastructure Technology
outsourcing revenues. Software revenues plummeted 6% Y-o-Y to
$900 million with a 20.6% operating
margin. HP Financial Services revenue was down 6% Y-o-Y to
$806 million.
- Guidance - Hewlett-Packard's management informed that
for fourth quarter of the fiscal, non-GAAP diluted EPS is expected
to be between $0.92 to $0.98 and GAAP
earnings is likely to be between $0.12 to
$0.18 per diluted share. For the full fiscal year, the
Company expects non-GAAP diluted earnings to range between
$3.59 and $3.65 per share and GAAP
earnings are expected to range from $1.87
and $1.93 per diluted share.
To find out how this influences our rating on Hewlett-Packard
Company, read the full report in its entirety here:
http://www.aciassociation.com/reports?keyword=HPQ
--
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