HP suffers a 5.5% stock drop following a poor earnings report

CEO Meg Whitman was very enthusiastic when she released Hewlett-Packard’s fourth quarter results despite the fact that the company wasn’t able to achieve the revenue that analysts had expected. This paired with the fact that HP’s revenues overall are down 5% year-over-year have resulted in 5.5% drop in the company’s stock. 

Hewlett-Packard released its fourth quarter results today, revealing earnings per share of $0.92 on revenue of $26.8 billion. Analysts had expected earnings per share of $0.91 on revenue of $27.34 billion. “We grew operating profit margins across all of our major business segments, increased investment in innovation, and executed well across key areas of our portfolio and in our separation activities,” said CEO Meg Whitman in the earnings report. Despite Whitman’s enthusiasm, Hewlett-Packard stock has dropped 5.5 percent in after hours trading. Overall the company’s revenues are down 5 percent year-over-year, which is potentially leading to the dive in HP’s stock price.