Shares of Hewlett-Packard (NYSE:HPQ) lost slightly in after-hours trading after the company reported earnings for its second quarter of Fiscal Year 2023. Earnings per share came in at $0.80, which beat analysts’ consensus estimate of $0.76 per share.
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Sales decreased by 21.7% year-over-year, with revenue hitting $12.91 billion. This missed analysts’ expectations of $13.04 billion. In addition, Hewlett-Packard returned $300 million to shareholders in dividends.
Management also offered some guidance on the third quarter and the full year. Earnings per share are expected between $0.81 and $0.91, roughly in line with consensus projections calling for $0.86. As for the full year, management expects between $3.30 and $3.50 per share, which mostly beats analyst projections calling for $3.34 per share.
Overall, Wall Street has a consensus price target of $29.33 on Hewlett-Packard, implying 5.17% downside risk, as indicated by the graphic above.
