Daily Management Review

HP Inc's net profit falls by 9% in the first half of 2019-2020


Net income of HP Inc. amounted to $ 1.442 billion according to the results of the first six months of the 2019-2020 financial year ending April 30. This is 9% lower compared to the same period of the previous financial year, the company reports.

Samuel M. Livingston via flickr
Samuel M. Livingston via flickr
Diluted earnings per share in the reporting period amounted to $ 0.99 versus $ 1.02 for the same period a year earlier. At the same time, the company's revenue for the fiscal year decreased by 5.7% and amounted to $ 27.087 billion.

The company's net profit for the second quarter of the financial year decreased by 2.3% compared to the previous one, to $ 764 million. Diluted earnings per share for the reporting period amounted to $ 0.53 versus $ 0.51 for the same period last year. The company's revenue for the second quarter decreased by 11% and amounted to $12.469 billion.

The figures include quarterly revenue in the Personal Computer Systems segment (Personal Systems), which accounted for more than 60% of the company's revenue, decreased in annual terms by 7%, and printing units (Printing) - by 19% year-on-year.

In the third quarter of the current fiscal year, the company predicts diluted earnings per share of $ 0.35-0.41. At the same time, noting the level of uncertainty regarding the duration of the pandemic, as well as the timing and pace of economic recovery, the company did not provide a forecast for the entire financial year. 

source: bloomberg.com