Boston, MA 05/24/2013 (wallstreetpr) – The share prices of Hewlett Packard Company (NYSE:HPQ) surged by 17.10 percent to close at $24.86 per share for the last trading session. The shares traded in the range of $22.90 to $24.95 per share with the company reaching its new 52 week high price level at $24.95 per share. This surge in share prices of Hewlett Packard Company (NYSE:HPQ) is mainly attributed to the second quarter results reported recently.
Results for second quarter, 2013
The second quarter financial results f Hewlett Packard Company (NYSE:HPQ) were recently released in which the company registered an Earnings per share of $0.87, which was $0.06 over and above the analysts estimates for the company. The revenue for the quarter, however, declined by 10 percent to $27.6 billion against the experts’ consensus estimate of $28.12 billion.
The company had considerably improved its net debt position in the fifth consecutive quarter after returning nearly $1 billion to the shareholders through dividends and share buybacks. Hewlett Packard Company (NYSE:HPQ) is engaged in the development, production and distribution of products, technologies, solutions, software and services to wide range of customers. The market segment for the company includes individual customers, small and medium businesses, large enterprises, government organizations, health and education sectors.
Hewlett Packard Company (NYSE:HPQ) operates its businesses in seven major segments related to its various product lines. The company holds outstanding shares of 1.94 billion in the market and the institutional ownership in Hewlett Packard Company (NYSE:HPQ) amounts to 78 percent of the holdings. The average trading volume for the company is 18.14 million shares per day.
