HP Inc. (NYSE: HPQ) reported its third-quarter results on Tuesday, beating analysts’ expectations on both earnings and revenue. The company posted earnings per share of $0.49, up 19% year-over-year, and revenue of $15.3 billion, up 7% year-over-year. The company also raised its full-year guidance for both earnings and free cash flow.
HP’s performance was driven by strong demand for its personal systems and printing products, especially in the consumer segment. The company saw double-digit growth in notebook, desktop, and workstation sales, as well as in ink and laser supplies. HP also benefited from its focus on innovation, sustainability, and digital transformation.
The company’s CEO Enrique Lores said in a statement: “We delivered another strong quarter of earnings and revenue growth, with consistent execution across all segments and regions. We are doing what we said we would do – driving profitable growth, investing in our future and creating value for all HP stakeholders.”1
Salesforce beats estimates and raises outlook
Salesforce.com, Inc. (NYSE: CRM) announced its second-quarter results on Wednesday, surpassing analysts’ estimates on both earnings and revenue. The company reported earnings per share of $1.48, up 69% year-over-year, and revenue of $6.34 billion, up 23% year-over-year. The company also raised its full-year guidance for both earnings and revenue.
Salesforce’s performance was fueled by strong growth across all its cloud segments, particularly in platform and other services, which grew 28% year-over-year. The company also saw robust growth in its international markets, especially in Asia-Pacific and Europe. Salesforce also benefited from its strategic acquisitions of Slack Technologies, Inc. (NYSE: WORK) and MuleSoft, Inc., which enhanced its product portfolio and customer base.
The company’s co-CEO Marc Benioff said in a statement: “We had the best quarter in our company’s history. We are now on track to deliver more than $50 billion in revenue this year – an incredible milestone for a company that is still growing fast.”2
Victoria’s Secret posts first profit since spin-off
Victoria’s Secret & Co. (NYSE: VSCO) reported its second-quarter results on Wednesday, posting its first profit since spinning off from L Brands Inc. (NYSE: LB) in August. The company reported earnings per share of $1.71, compared to a loss of $0.97 a year ago, and revenue of $1.61 billion, up 29% year-over-year. The company also issued a positive outlook for the third quarter and the full year.
Victoria’s Secret’s performance was driven by strong sales growth in both its lingerie and beauty segments, as well as improved margins and lower expenses. The company also saw increased customer engagement and loyalty, as well as higher online sales. Victoria’s Secret also benefited from its efforts to revamp its brand image, product assortment, and marketing strategy.
The company’s CEO Martin Waters said in a statement: “We are very pleased with our second-quarter results, which reflect the successful execution of our strategy to reposition Victoria’s Secret as the world’s leading advocate for women. We are confident that we have a bright future ahead of us as we continue to deliver profitable growth and create value for our shareholders.”3
