Categories: OLD Media Moves

HP's earnings: A hit, or a miss?

Michael Learmonth of Silicon Alley Insider writes Monday that Fox Business Network can’t seem to decide whether Hewlett-Packard’s earnings missed or beat analyst estimates.

Learmonth wrote, “Fox Business Network is struggling through its first earnings season. (And who can blame them? It’s hard to get those numbers out fast.) On Monday afternoon, perhaps in their haste to beat CNBC, anchor Liz Claman — formerly of CNBC, btw — turned a boffo quarter from Hewlett Packard (HPQ) into an earnings miss.

“Fox Business reported at 4:03 p.m. that HP’s earnings missed Wall Street consensus estimates by a penny. That’d be a huge deal for the tech giant, and indeed, Fox reported that HP shares were dropping in after-hour trading.

“But eleven minutes later shareholders had earned a reprieve: After explaining that his staff had just ‘crunched the numbers,’ Liz’ co-anchor David Asman provided new ones: HP had beaten the street by four cents. HPQ is now up about 1%, to $50.”

Read more here.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.