HP Inc Delivers Strong Results in Q2

Despite an 11% decline in net revenue, HP Inc. succeeded in returning $518 million to shareholders in the form of share repurchases and dividends.

So says HP Inc.’s financial report for the second quarter of 2016 (Q2 2016). Other highlights include:

  • non-GAAP diluted net earnings per share from continuing operations of $0.41 — above the previously provided outlook of $0.35 to $0.40 per share
  • GAAP diluted net earnings per share from continuing operations of $0.38 — within the previously provided outlook of $0.33 to $0.38 per share
  • net cash provided by operating activities of $1.6 billion
  • Personal Systems net revenue was down 10% year over year (down 5% in constant currency) with a 3.5% operating margin. Commercial net revenue decreased 7% and Consumer net revenue decreased 16%. Total units were down 9% with Notebooks units down 6% and Desktops units down 10%.
  • Printing net revenue was down 16% year over year (down 10% in constant currency) with a 17.3% operating margin. Total hardware units were down 16% with Commercial hardware units down 12% and Consumer hardware units down 18%. Supplies revenue was down 16% (down 10% in constant currency).

Dion Weisler (Pictured), HP’s President and CEO, said: “This quarter we delivered strong results and solid progress towards our long term strategy. We achieved our operational objectives, unleashed truly amazing innovations, and grew in strategic areas of our business, despite tough market conditions. I’m confident in our ability to execute and remain committed to our plan for growth.”

Detailed information at: http://h30261.www3.hp.com/

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