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On today's episode of Asking for a Trend, Hosts Josh Lipton and Seana Smith dig into two key tech earnings reports: HP Inc. (HPQ) and CrowdStrike (CRWD).
HP Inc. (HPQ) posted mixed third quarter results as adjusted earnings of $0.83 per share came in below Street estimates of $0.86, while revenue of $13.5 billion topped the expected $13.37 billion. HP Inc. CEO Enrique Lores joins Yahoo Finance Executive Editor Brian Sozzi to discuss HP's earnings:
"I think this quarter shows the momentum that we have been building. In fact, this is the first quarter in nine where we are seeing revenue growing again, which is an important change and is really driven by the demand that we see in the PC space, especially in commercial PCs and also in what we call our growth businesses... On the other side, we have also continued to see some pressure, especially on print," Lores says of the quarter.
CrowdStrike Holdings reported better-than-expected second quarter results. It was the cybersecurity company's first quarterly report since a software update knocked out systems for many of its customers around the globe.
RBC Capital Markets Managing Director and Head of Global TIMT Research Matt Hedberg explains that the report was "better than feared," though he would like more information about potential customer churn following the outage. He also expects CrowdStrike to offer discounts to keep customers happy. However, he thinks this incident "could be in the company's rearview mirror later this year," given that "CrowdStrike's in business to secure devices from malicious attacks, which didn't happen." Ultimately, he believes that CrowdStrike will emerge from the crisis "as a stronger vendor [with] even better controls in place."
This post was written by Melanie Riehl