HP (HPQ) stock is soaring Thursday after the PC and printer company beat revenue and earnings expectations for its fiscal second quarter and issued solid guidance for its fiscal third quarter.
In the three months ended April 30, HP said its revenue slipped 0.8% year-over-year to $12.8 billion, pressured by an 8% drop in printing net revenue. Still, HPQ saw revenue in its personal systems segment, its biggest contribution to total revenue, rise 3% from the year prior to $8.4 billion.
