U.S. GDP Contraction Slows, but the Road to Recovery Will Be Rocky

Lexmark (LXK) shares are trading higher on better-than-expected Q1 results, and a strong Q2 outlook.

For Q1, the printer maker reported revenue of $1.043 billion, up 10% from a year ago, and ahead of the Street at $961.1 million. Non-GAAP profits were $1.35, well ahead of the consensus at 89 cents.

For Q2, the company sees revenue up in the mid-to-high single digits on a percentage basis from a year ago, which if you assume 7% growth would mean about $968 million, ahead of the Street at $933.9 million. The company sees profits for Q2 on a non-GAAP basis of 85-95 cents, above the Street at 73 cents.

LXK Is up 67 cents, or 1.7%, to $40.62.