HP beats Street, Q3 revenue from 2% to $ 31.2 (b), cuts Outlook FG11

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After confirming its intention to acquire software company autonomy, HP released the stronger than expected third fiscal quarter 2011 financial results, posting of initial 31.2 billion, an increase of 2 per cent from 30.7 billion a 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 in revenue expected EPS of $ 31.19 and 1.09 billion.

HP's fourth fiscal quarter 2011 earnings estimates that approximately $ 32.1 billion to $ 32.5 billion, GAAP diluted EPS in the range from $ 0.44 to $ 0.55 and non-GAAP diluted EPS in the range of $ 1.12 to $ 1.16.

Full year revenue will be approximately $ FG11 127.2 to $ 127.6 billion, down from its previous estimate of $ 129 to $ 130 billion. GAAP diluted EPS FG11, expected to be in the range of $ 3.59 to $ 3.70, down from its previous estimate of at least $ 4.27 FG11, and non-GAAP diluted EPS is expected to range from $ 4.82 to $ 4.86, down from its previous estimate of at least $ 5.00.

HP warns that this can be achieved through restructuring and shutdown costs associated with the webOS devices and costs we will receive more detailed information on the rest of HP'S financials at the market close.

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