HP Inc. Q3 Profit Drops, Inline With Estimates

(RTTNews) - HP Inc. (HPQ) announced a profit for third quarter that decreased from the same period last year in line with the Street estimates.

The company's bottom line came in at $766 million, or $0.76 per share. This compares with $1.12 billion, or $1.08 per share, in last year's third quarter.

Excluding items, HP Inc. reported adjusted earnings of $859 million or $0.86 per share for the period.

Analysts on average had expected the company to earn $0.86 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 10.3% to $13.14 billion from $14.65 billion last year.

HP Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $766 Mln. vs. $1.12 Bln. last year. -EPS (Q3): $0.76 vs. $1.08 last year. -Analyst Estimates: $0.86 -Revenue (Q3): $13.14 Bln vs. $14.65 Bln last year.

-Guidance: Next quarter EPS guidance: $0.85 to $0.97 Full year EPS guidance: $3.23 to $3.35