HP Inc. (NYSE:HPQ) late Wednesday [Feb 22, 2017 | 4:05pm ] posted better than expected first quarter earnings results and offered an in-line outlook, as better notebook computer sales paced its revenue gains for the period.

Written by StockNews.com

The Palo Alto-based PC and printer maker reported Q1 EPS of $0.38, which was $0.01 better than the Wall Street consensus estimate of $0.37.

Revenues rose 3.6% from last year to $12.68 billion, also topping analysts’ view for $11.83 billion.

HP noted that Personal Systems net revenue gained 10% in the latest period, while Commercial net revenue increased 7%. Meanwhile, Consumer net revenue jumped 15%.

Total units shipped were up 8% in Q4, with Notebooks gaining 12% and Desktops units flat from last year.

Printing net revenue fell 3% from the year-ago period, and Supplies sales were down 3% as well, but total hardware units were up 6%. Within that hardware segment, Commercial hardware units gained 2% and Consumer hardware units improved 7%.

Looking ahead, HP forecast Q2 EPS ranging from $0.37 to $0.40, which is in-line with Wall Street’s view of $0.38.

The company commented via press release:

“In Q1, we delivered earnings at the high end of our outlook range with strong free cash flow, driven by relentless execution and innovation,” said Dion Weisler, President and CEO, HP Inc. “We are confident in our ability to manage our business and deliver our FY17 financial commitments.”

...Year-to-date, HPQ has gained 9.16%, versus a 5.71% rise in the benchmark S&P 500 index during the same period.

HPQ currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #4 of 29 stocks in the Technology – Hardware category.