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With earnings season coming to an end, HP Inc. is all set to announce its financial results for the recent quarter on August 30, 2022.
How HP performed last quarter
For the second quarter, HP reported better-than-expected results, with the company earning $1.08 per share on an adjusted basis, higher than analyst estimates of $1.05 per share. Sales also increased to $16.50 billion, topping market expectations of $16.17 billion.
HP was optimistic about the third quarter results, which resulted in the company increasing its earnings forecast.
What can we expect this time?
Research firm Gartner is expecting the economic slowdown in China and rising inflation to negatively impact worldwide shipments of PCs and smartphones this year. The research firm sees global computer shipments declining 9.5% in 2022, with softness in demand expected to impact the PC maker’s HP results as well.
Before the release of results, on August 19, Wells Fargo analysts downgraded HP from Equal-Weight to Underweight, while cutting the price target from $35 to $30. Analysts, on average, expect HP to report quarterly earnings of $1.05 per share, which would represent 5% year-over-year growth. Revenue is expected at $15.8 billion, up 3.34% from a year ago.
How to trade HP’s earnings report?
Trading indices could be a viable way to trade HP’s earnings report if you don’t own the company’s shares. Trading indices offers exposure to the leading firms around the world, while diversifying your portfolio with a single trade.
You can also trade US Share CFDs with $0 Commissions.
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