Hewlett-Packard Earnings results Q3 estimated report 8/22/2012

Hewlett-Packard Earnings results Q3 estimated report 8/22/2012 : Analysts have become increasingly bullish on Hewlett-Packard (HPQ) in the month leading up to the company’s third quarter earnings announcement scheduled for Wednesday, August 22, 2012. The consensus earnings per share estimate has moved up from 97 cents a share to the current expectation of earnings of 99 cents a share.

Current Wall Street estimates reflect a 10% decline from the year-ago quarter, when the company reported earnings of $1.10 per share.

The consensus estimate has decreased from $1.02 over the past three months. Analysts are expecting earnings of $4.06 per share for the fiscal year. Analysts project revenue to fall 3.3% year-over-year to $30.15 billion for the quarter, after being $31.19 billion a year ago. For the year, revenue is projected to roll in at $122.61 billion.

The company has reported decreasing profit for three quarters in a row. In second quarter, net income fell 30.9% from the year earlier, while the figure fell 43.6% in the first quarter and 90.6% in the fourth quarter of the last fiscal year.

Revenue has dipped in each of the last three quarters. The year-over-year drop in revenue was 3% in second quarter. Prior to that, revenue fell 7% in first quarter and 3.5% in the fourth quarter of the last fiscal year year-over-year.

Most analysts think investors should stand pat on Hewlett-Packard, with 12 of 24 analysts rating it hold.

Earnings estimates provided by Zacks.

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