HP’s Q4 2011 earnings ahead, 2012 guidance weak

Rue Liu - Nov 21, 2011
HP’s Q4 2011 earnings ahead, 2012 guidance weak

HP released its Q4 2011 earnings report today with results that were just slightly ahead of expectations. The company had a rough year with the WebOS mishap and the ousting of former CEO Leo Apotheker, but it managed to post earnings per share of $1.17, four cents ahead of the expected $1.13.

Revenue for the quarter came in at $32.1 billion, dropping 3 percent from revenue in the same period in 2010, while operating profit came in at $9.7 billion, down 10 percent from the year before. Its GAAP diluted earnings per share, however, is $0.12, down 89 percent from the same period last year. Overall net revenue for the fiscal year 2011 came in at $127.2 billion, up 1 percent from last year.

However, HP’s guidance for 2012 appears weak with earnings per share set for at least $4, which is well below expectations of $4.56. Following the earnings report, HP’s shares dropped more than 4 percent, closing at $28.84.

[via AllThingsD]

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