After confirming its intention to purchase software company Autonomy, HP released stronger than expected third fiscal quarter 2011 initial financial results, posting $31.2 billion, an increase of 2 percent from $30.7 billion one year ago.
In the third quarter, preliminary GAAP diluted earnings per share (EPS) was $0.93 and non-GAAP diluted EPS was $1.10. Analysts expected EPS of $1.09 and $31.19 billion in revenue.
For the fourth fiscal quarter of 2011, HP estimates revenue of approximately $32.1 billion to $32.5 billion, GAAP diluted EPS in the range of $0.44 to $0.55, and non-GAAP diluted EPS in the range of $1.12 to $1.16.
Full-year FY11 revenue will be approximately $127.2 billion to $127.6 billion, down from its previous estimate of $129 billion to $130 billion. FY11 GAAP diluted EPS is expected to be in the range of $3.59 to $3.70, down from its previous estimate of at least $4.27, and FY11 non-GAAP diluted EPS is expected to be in the range of $4.82 to $4.86, down from its previous estimate of at least $5.00.
HP warns that this could be effected by restructuring and shutdown costs associated with webOS devices, and acquisition-related charges. We’ll get more details on the rest of HP’s financials at market close.
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