After Hewlett-Packard reported it’s first fiscal-quarter earnings on Thursday, acknowledging a sizable drop in its sales and profit, the company’s stock soared as it is continuing to do today.
Why? Because it’s financial report wasn’t as bad as Wall Street had expected.
So does that mean HP’s investors can begin to breathe more easily about the troubled Palo Alto tech giant’s future? It all depends on which analysts you read.
Here are just two of the reactions issued by the experts on Friday:
Brean Capital declared the company’s earnings “clearly a very successful step on the path to recovery.”
But Deutsche Bank’s analysts warned that “we remain cautious on HP’s weak fundamentals, share loss, ongoing revenue erosion and challenging macro conditions,” adding, “we believe significant downside risks at HP remain.”
Confused? Of course, anyone wondering whether they should or shouldn’t bet on HP’s stock can always flip a coin.