Hewlett Packard just reported quarterly earnings and we're sifting through the report now.
It's a beat.
HP reported revenue of $28.2 billion, down only 1% from the prior-year period.
Quarterly non-GAAP earnings per share of 90 cents, up 10% from the prior-year period. That beat also topped the company's guidance of 82 cents to 86 cents per share. (GAAP EPS was 74 cents up 17% from the year-ago period.)
Analysts were expecting revenues to decline about 4% to $27.19 billion, while earnings per share were expected to increase 2.4% to 84 cents
This is two quarters in a row that HP beat analysts expectations on both earnings and revenue. While expectations were modest, this is a good sign that CEO Meg Whitman's multi-year plan to turn HP around is going in the right direction.