Revenues of $14.5 billion
HP (HPQ) announced its fiscal 1Q18 results on February 22, 2018. It reported revenue of $14.5 billion, a rise of 14% YoY (year-over-year). Non-GAAP (generally accepted accounting principles) EPS (earnings per share) were $0.48, above the firm’s outlook of $0.40 to $0.43 and 26% above last year’s EPS of $0.38.
During HP’s fiscal 1Q18 earnings call, CEO Dion Weisler stated, “We’re coming out of the gate strong in Q1, with double-digit revenue and EPS growth year over year. Our impressive results spanned all segments and all regions, reflecting our innovative product portfolio and global execution.”
What did analysts expect from HP in 1Q18?
Analysts expected HP to post revenue of $13.5 billion in fiscal 1Q18, which ended in January 2018, with a high estimate of $12.7 billion and a low estimate of $14.0 billion. Analysts had an average EPS estimate of $0.42 for HP in 1Q18. HP beat average revenue estimates by 7.4% and earnings estimates by 14.3% in 1Q18.
HP is one of the top hardware consumer tech firms in the world with a market cap of $38.6 billion. Peer companies such as Canon (CAJ), Microsoft (MSFT), Acer (ACEYY), and Toshiba (TOSYY) have market caps of $50 billion, $735 billion, $2.2 billion, and $19 billion, respectively.