When HP Inc. (NYSE: HPQ) released its fiscal second-quarter results after the markets closed on Thursday, the company said that it had $0.53 in earnings per share (EPS) and $14.04 billion in revenue. That compared with consensus estimates of $0.51 in EPS and $13.97 billion in revenue, as well as the $0.48 per share and $14.0 billion posted in the same period of last year.
Segment results were posted as follows:
- Personal Systems net revenue was up 2% year over year (up 5% in constant currency) with a 4.3% operating margin. Commercial net revenue increased 7% and Consumer net revenue decreased 9%. Total units were down 1% with Notebooks units down 5% and Desktops units up 6%.
- Printing net revenue was down 2% year over year (down 2% in constant currency) with a 16.4% operating margin. Total hardware units were down 4% with Commercial hardware units down 3% and Consumer hardware units down 4%. Supplies net revenue was down 3% (down 3% in constant currency).
Looking ahead to the fiscal third quarter, HP expects to see GAAP EPS in the range of $0.53 to $0.56. The consensus estimates are $0.55 in EPS and $14.7 billion in revenue for the quarter.
Dion Weisler, HP’s president and CEO, commented:
We delivered solid Q2 financial results, with strong non-GAAP EPS growing double-digits and coming in at the high end of our outlook. … We continue to strike the right balance between driving results today and investing in innovation to deliver long term financial performance.
Shares of HP traded up more than 4% Friday morning to $20.04, in a 52-week range of $18.06 to $27.08. The consensus price target is $23.48.
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