HP Shares Up 3% On FY19 Outlook

(RTTNews) - Personal computers maker HP Inc. (HPQ) Wednesday issued a positive earnings outlook for the fiscal year 2019.

Looking forward to the fiscal year 2019, the company estimates adjusted earnings of $2.12 to $2.22 per share. Analysts polled by Thomson Reuters currently estimate earnings of $2.17 per share for 2019.

HP expects to generate free cash flow of at least $3.7 billion for fiscal 2019.

"FY18 has been a strong year for HP," said Steve Fieler, Chief Financial Officer. "In FY19 we will continue to execute against our core, growth and future strategy, driving productivity improvements, and investing for the future to maximize shareholder value over the long term."

"We continue to deliver strong growth in earnings and cash flow, while taking profitable share with breakthrough innovation and operational excellence," said Dion Weisler, President and Chief Executive Officer, HP Inc. "I'm enormously proud of what we have accomplished in the last twelve months. We continued to showcase our ability to reinvent the core, make progress against our growth initiatives, and lay the foundation for our future."

HPQ closed Wednesday's trading at $26.06, down $0.02 or 0.08%, on the NYSE. The stock, however, gained $0.59 or 2.26% in the after-hours trade.