HP's EPS level beat estimates, company confirms

Hewlett Packard announced its financial results for the second quarter of 2013 last Friday (24 May) and confirmed that its GAAP diluted EPS was higher than expected.

HP's EPS (earnings per share) stood at $0.55 (£0.36), well above the predicted level of $0.38 but down when compared with year-on-year levels from 2012. The company, which creates everything from wide-format printing solutions to paper, experienced a slight drop in revenues too.

Despite this, its chief executive officer/president, Meg Whitman, seemed positive.

In a statement cited by whattheythink.com, she revealed: "We beat the upper end of our non-GAAP diluted EPS outlook for the quarter by $0.05 per share, driven by better than expected performance in Enterprise Services and Printing, coupled with the accelerated capture of restructuring savings and improvement in our operations."

By the end of this financial year, HP expects its GAAP diluted EPS to have reached $2.50 and its non-GAAP diluted EPS to stand at $3.50. Whitman firmly believes the company is on track to achieve these figures, adding: "I feel good about the rest of the year. As I have said many times before, this is a multi-year journey. We have a long way to go, but we are on track to deliver..."

What's more, Whitman said she believes the company's net debt will have fallen to pre-autonomy levels by the end of the financial year, something which is bound to improve the brand's overall reputation within the print industry and the business world as a whole.

Now in her second year of presidency at HP, Whitman also sits on HP's board and has long-standing experience in executive positions, hp.com confirms; leaving her in the best-possible stance to help the brand reach its predicted revenues/EPS level.