HP (NYSE: HPQ) reported better-than-expected earnings for its first quarter of 2020. The stock traded up 5.7% on Tuesday following a stronger than expected earnings report. The computer maker reported $0.65 EPS for the quarter vs. 54 cents per share as expected. And revenue of $14.62 billion during the quarter, compared to analysts’ expectations of $14.64 billion. After strong quarterly results, the management revised up its full-year 2020 earnings guidance to the range of $2.03 per share to $2.13 per share and revised up the forecast for adjusted earnings to the range of $2.33 to $2.43.
According to CEO Enrique Lores, “Our Q1 results reflect a business that is strong and getting stronger. Our non-GAAP EPS growth of 25% was significantly above our guided range, driven by tremendous execution against our strategic priorities.”