/// Liveblogging HP’s Q1 2013 Earnings Call
As noted earlier, Hewlett-Packard released its earnings results for the first quarter of its fiscal year a little while ago, and and they’re surprisingly good. HP shares are rising after-hours, on word that the company beat its own expectations and those of the street rather handily. The consensus view called for it to report 71 cents a share in per-share earnings. HP came in at 82 cents. Sales were also ahead of the consensus, despite the fact that revenue fell in nearly every significant business segment. Still don’t harsh HP’s buzz with too many details. There’s more to crow about: Net debt of the operating company came down by $1 billion to $4.7 billion, and it’s looking like HP will be close to zero debt for the operating company this year. The results if nothing else buy Meg Whitman and her team some time to quiet the critics who say the HP should be split into two or more companies in order to unlock value. That buzz was prominent late in the trading session as rumors flew that a breakup announcement might accompany earnings. As careful AllThingsD readers might have already guessed, a breakup isn’t in the cards, at least not for the time being. The conference call with analysts is about to get underway momentarily and I’m listening in. Expect lots of questions about the balance sheet, and probably more chatter about the breakup idea. 5:05 pm : Joining the call in progress. CEO Meg Whitman is speaking.
Liveblogging HP’s Q1 2013 Earnings Call