HP (HPQ) Continues Its Bullish Move As Profits Expectations Come Positive

The Palo Alto, California-based company forecast adjusted earnings of about $6 per share for the next fiscal year, excluding certain items. Revenue is expected to increase by about 7%. HPQ stock is on the rise by 4.30 today, trading at $29.82. Excluding some items, earnings per share will be between $4.07 and $4.27.
The company’s long-term revenue growth rate will be in the low single digits, Myers said. In addition, the CEO, Enrique Lores, argues that office equipment needs to be upgraded to take advantage of the uptick in demand from corporations. As for the company’s printer business, Enrique has shifted it to a subscription model. Lores is trying to expand the company’s reach by offering a variety of printing solutions and a move into PC peripherals. Sales fell short of expectations due to a shortage of semiconductors. The company’s CFO said on Monday that the company’s improving operations are taking place in a supply-driven environment.

Anthony Gonzales

Biotech, Tech, and Crypto reporter Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.