Why HP Shares Are Rising Today

HP Inc HPQ is trading higher Wednesday after the company announced better-than-expected fourth-quarter fiscal 2021 financial results and issued guidance above estimates. 

HP reported quarterly adjusted earnings of 94 cents per share, which beat the estimate of 88 cents per share. The company reported quarterly revenue of $16.7 billion, which beat the estimate of $15.4 billion.

HP expects fiscal-year 2022 adjusted earnings to be in a range of $4.07 to $4.27 per share versus the estimate of $4.05 per share.

"Our results reflect a growth-oriented company on its front foot and hitting its stride," said Enrique Lores, president and CEO of HP. "HP is at the heart of hybrid with an innovative portfolio of hardware, software and subscriptions that position the company well for sustained growth in fiscal year 2022 and beyond."

See Also: Analysts Bump Up Price Targets On This Tech Giant Post Q4 Success

HP is a leading provider of computers, printers and printer supplies.

HPQ Price Action: HP has traded as high as $36 and as low as $20.58 over a 52-week period.

The stock was up 11.10% at $35.74 at time of publication.

Photo: EsaRiutta from Pixabay.