Computer manufacturer HP Inc (NYSE:HPQ) hit the mark in the second quarter if Thrusday's 5% pre-market share price rally is anything to go by.
According to the quarterly report, revenues for the three months ending April 30 were essentially flat at $12.8 billion.
Net profits were substantially lower at $607 million compared to more than $1 billion the previous year, though the latter figure was flattered by a negative effective tax rate that lifted earnings by $691 million.
HP’s printing segment continued to decline, but personal systems (comprising desktops, notebooks, workstations, and other computing devices” owed growth with net revenues of $8.43 billion, up from $8.17 billion in the second quarter of 2023.
Shares are expected to hit a year-to-date high of $34.39 when markets open on Thursday.