HP Inc revenue beats Street on notebook PC demand
(Reuters) - HP Inc reported better-than-expected quarterly revenue on Tuesday, driven by strong growth in its personal systems business, which includes notebooks and desktops. The company also named Steve Fieler as its chief financial officer, effective July 1, succeeding Cathie Lesjak.
(Reuters) - HP Inc
The company also named Steve Fieler as its chief financial officer, effective July 1, succeeding Cathie Lesjak.
Fieler currently leads the company's treasury and corporate finance functions.
Shares of HP Inc, formed out of the 2015 split of Hewlett-Packard Co, were marginally up in extended trading.
HP Inc's personal systems business, which accounts for more than 60 percent of total revenue, rose 14.5 percent to $8.76 billion, beating the average analyst estimate of $8.28 billion, according to Thomson Reuters I/B/E/S.
The Palo Alto, California-based company had the top position in worldwide PC shipments in the first calendar quarter of 2018 with a 22.6 percent market share, according to research firm International Data Corp's data.
Net earnings jumped to $1.06 billion, or 64 cents per share, in the second quarter ended April 30, from $559 million, or 33 cents per share, a year earlier, mostly helped by a one-time tax benefit of $975 million.
Excluding items, the company earned 48 cents per share, in line with Wall Street estimates.
Revenue rose 13.1 percent to $14 billion, above analysts' average estimate of $13.57 billion.
(Reporting by Munsif Vengattil in Bengaluru; Editing by Maju Samuel)
This story has not been edited by Firstpost staff and is generated by auto-feed.
U.S. home sales fall as tight supply boosts prices | Reuters
France, Germany to agree to NATO role against Islamic State - sources | Reuters
By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States
China's Xi says navy should become world class | Reuters
BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.