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Channel Beat: HP Inc. Earnings Beat Wall Street Expectations In Difficult Market

In other top stories this week, Verizon warns it will see negative impact in its earnings due to its ongoing employee strike. Also, Microsoft lets go 1,850 mobile division employees.


HP Inc. beat Wall Street projections this week with non-GAAP diluted net earnings of 41 cents per share for its fiscal second quarter.

HP Inc. sales for the quarter were $11.6 billion, down 11 percent from the year-ago quarter.

However, commercial notebooks, commercial mobility, commercial services, and managed print services buoyed those numbers with growth.

HP will now turn its attention to the 3-D printer market with the HP JetFusion 3-D printing solutions, which will be out later this year.

Verizon is bracing for a downturn in its second-quarter financial results, due to the ongoing strike by 40,000 unionized employees.

Verizon CEO Lowell McAdam said the company has had to delay new service installations since the beginning of the strike, which dates back to April 13.

Solution providers have seen impact with other telcom partners that rely on the Verizon network to deliver local services.

This week Microsoft said it will cut 1,850 jobs in order to streamline its smartphone hardware business.

Microsoft's new focus will be around enterprises and niche areas. The move further dissolves Microsoft's 2014 Nokia acquisition.

A Gartner report showed Windows Phone OS held only 0.7 percent market share of smartphone sales in the first quarter.

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