Another Outstanding Quarter for HP

HP Inc has registered a net revenue of US$13.1 billion in the third quarter of fiscal year 2017  (Q3 2017), up 11% in constant currency comparing with the prior-year period.

In Q3, GAAP diluted net earnings per share (“EPS”) from continuing operations was US$0.41, down from US$0.49 in the prior-year period and above the previously provided outlook of US$0.36 to US$0.40.

According to the results, HP’s Personal Systems net revenue was up 12% year over year (up 13% in constant currency) with a 3.7% operating margin. Commercial net revenue increased 11% and Consumer net revenue increased 14%. Total units were up 7% with Notebooks units up 12% and Desktops units down 3%.

Printing net revenue was up 6% year over year (up 7% in constant currency) with a 17.3% operating margin. Total hardware units were up 1% with Commercial hardware units flat and Consumer hardware units up 1%. Supplies net revenue was up 10% (up 10% in constant currency).

According to Dion Weisler (pictured), president and CEO of HP Inc., Q3 was another outstanding quarter of successfully executing reinvention strategy. HP stabilized supplies revenue a quarter earlier than expected, posted double-digit revenue growth, delivered non-GAAP earnings per share at the high end of its previously provided outlook range and generated approximately $1.7 billion in free cash flow.