Earnings are solid–and the economy’s on track–even if the U.S. stock market doesn’t care right now
posted on May 19, 2010 at 3:48 pm
Earnings, schmearnings. The stock market simply doesn’t care.
After the close yesterday, May 18, Hewlett Packard (HPQ) reported earnings for its fiscal second quarter of 2010 of $1.09 a share. That was 4 cents a share better than Wall Street had projected. Revenue climbed 12.4% from the second quarter of fiscal 2009 to $30.8 billion. That too was above the Wall Street consensus (at $29.82 billion.) And the company raised its guidance for fiscal 2010 to $4.45 to $4.50 a share. That is slightly above the $4.45 Wall Street consensus and well above the $4.37 to $4.44 a share that the company had projected earlier.
The stock market didn’t care. Read more
