Why HP Stock Just Dropped 12%
Shares of PC and printers maker HP (NYSE: HPQ) -- the artist formerly known as Hewlett-Packard -- are down 12.4% as of 11:05 a.m. EDT despite last night's report of a big earnings beat.
Reporting after close of trading, HP said it earned $0.53 per share, GAAP, in its fiscal Q2 2020, well ahead of its guided range of earnings from $0.46 to $0.50, and much better than the $0.45 per share (pro forma) that Wall Street had forecast. Sales for the quarter, however, were only $12.5 billion, below the consensus expectation of $12.8 billion.
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Source Fool.com
