HP Sales Boosted by Stabilizing PC Market, Shares Rise

Shares of HP Inc rose in the extended session Wednesday after the computer company posted quarterly results that beat economists’ expectations.

The California-based company reported a 3.6 percent rise in quarterly revenue after a prolonged slump thanks to strong sales of notebook PCs. The company’s net earnings from continuing operations; however, dropped to $611 million in the first quarter ended January, from $650 million a year earlier.

Meanwhile, HP’s revenue reached $12.68 billion, up from $12.25 billion recorded in the same period last year and above analysts’ forecast of $11.83 billion. HP’s PC shipments grew 6.6% during the three months through January even global PC shipments declined 1.5% for all suppliers, according to market sources.

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