Hewlett-Packard Falling After Earnings Release (HPQ)

Hewlett-Packard HPQ released its fiscal Q3 earnings results after the closing bell on Thursday. The company reported non-GAAP net income of $3.4 billion, or $1.08 per share, compared to EPS of $0.92 in the year ago period. This was in-line with analysts' consensus estimates of $1.08 per share. Revenues were $30.7 billion versus $27.6 billion in last year's corresponding quarter. This came in ahead of Wall Street consensus which was at $30.43 billion. In the after hours trading session, HPQ shares have fallen 0.37% to $40.61. “The broad-based strength of HP’s Q3 performance further demonstrates the power of our strategy and the discipline of our execution,” said Cathie Lesjak, HP chief financial officer and interim chief executive officer. "We raised our full-year outlook and are continuing to build momentum in driving out costs, investing for profitable growth and capitalizing on HP’s competitive advantages in the marketplace.” For the fourth quarter of fiscal 2010, HP estimates revenue of approximately $32.5 billion to $32.7 billion, GAAP diluted EPS in the range of $1.03 to $1.05, and non-GAAP diluted EPS in the range of $1.25 to $1.27. For the full year, HP expects revenue in the range of $125.3 billion to $125.5 billion. HP expects FY10 GAAP diluted EPS to be in the range of $3.62 to $3.64 and non-GAAP diluted EPS in the range of $4.49 to $4.51.