Hewlett Packard Co. Earnings Cheat Sheet: Third Consecutive Quarter of Profit Growth

S&P 500 (NYSE:SPY) component Hewlett Packard Co. (NYSE:HPQ) reported its results for the third quarter. Hewlett-Packard Company provides products, technologies, software and services to individual consumers, businesses and large enterprises, including customers in the government.

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Hewlett Packard Earnings Cheat Sheet for the Third Quarter

Results: Net income for Hewlett Packard Co. rose to $1.93 billion (93 cents per share) vs. $1.77 billion (75 cents per share) in the same quarter a year earlier. This marks a rise of 8.6% from the year earlier quarter.

Revenue: Rose 1.5% to $31.19 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: HPQ reported adjusted net income of $1.10 per share. By that measure, the company fell in line with the mean estimate of $1.10 per share. Analysts were expecting revenue of $31.19 billion.

Quoting Management: “We’re focused on improving performance across the business,” said Leo Apotheker, HP president and chief executive officer. “HP is taking bold, transformative steps to position the company as a leader in the evolving information economy. Today’s announced plan will allow HP to drive creation of long-term shareholder value through a focus on fewer fronts, thereby improving its ability to execute, invest in innovation and drive a higher-margin business mix.”

Key Stats:

The company has now seen net income rise in three straight quarters. In the second quarter, net income rose 4.7% and in the first quarter, the figure rose 15.8%.

Revenue has risen the past four quarters. Revenue increased 2.5% to $31.63 billion in the second quarter. The figure rose 3.6% in the first quarter from the year earlier and climbed 7.5% in the fourth quarter of the last fiscal year from the year-ago quarter.

The company fell in line with estimates last quarter after topping expectations in the previous two quarters. In the second quarter, it topped the mark by 3 cents, and in the first quarter, it was ahead by 7 cents.

Competitors to Watch: Dell Inc. (NASDAQ:DELL), Apple Inc. (NASDAQ:AAPL), Oracle Corporation (NASDAQ:ORCL), Microsoft Corporation (NASDAQ:MSFT), Cisco Systems, Inc. (NASDAQ:CSCO), Intl. Business Machines Corp. (NYSE:IBM), EMC Corporation (NYSE:EMC), Super Micro Computer, Inc. (NASDAQ:SMCI), RadiSys Corporation (NASDAQ:RSYS), and Silicon Graphics Intl. Corp (NASDAQ:SGI).

Investing Insights: Steve Jobs Prepares to Deliver a New Catalyst for Apple’s Stock.

(Source: Xignite Financials)