While Q1 did not look promising for HP, Q2 has proven to be a turning point. Recently reporting its Q2 results, HP has posted a 55.59% year to date total return. That number may inspire a little more confidence than is due, given the exceedingly low value at the beginning of the year.
However, HP’s year to date total return percentage should still provide some confidence. And it already has amongst their investors, causing the shares to rise 13% in a market that is otherwise in a state of general decline.
Other financial figures that should inspire confidence in not only HP’s investors, but the technology marketplace as a whole, include an operating profit of $0.87. While it may not seem spectacular, this is actually encouraging in the fact that Wall Street’s consensus estimate is $0.81
There are many factors that can be attributed to HP’s now promising trajectory in the marketplace; one of which that’s being touted by several sources is the leadership of Meg Whitman. Is this the case? I think we’ll wait for Q3 and Q4 numbers before we can say with any real certainty.