Daily Management Review

HP's net profit falls in 2018-2019


Net income of HP Inc. in the 2018-2019 fiscal year, ended on October 31, amounted to $ 3.152 billion, which is 1.7 times less than in the last financial year, the company reported.

Diluted earnings per share for the reporting period amounted to $ 2.07 compared to $ 3.26 for the same period last year. According to the results of the financial year, the company's revenue grew by only 0.5% and amounted to 58.756 billion dollars.

The company's net profit for the fourth quarter decreased by 3.7 times and amounted to 388 million dollars, while a year ago it was about 1.45 billion. Diluted earnings per share for the reporting period amounted to $ 0.26 compared to $ 0.91 for the same period last year. The company's revenue for the fourth quarter increased by 0.3%, to $ 15.407 billion. Analysts expected quarterly revenue of $ 15.25 billion.

The revenue of the Personal Systems division (personal computing segment), which accounts for about 68% of the company's total revenue, rose in the fourth quarter by 3.6% year-on-year to $ 10.426 billion, which exceeded the forecast of $ 10.29 billion. The business of Printing decreased by 6% on an annualized basis, to $ 4.982 billion.

In the first quarter of fiscal year 2019-2020, the company expects diluted earnings per share of $ 0.39-0.42, and $ 2-2.1 for the entire financial year.

HP Inc is an American IT company established in 2015 as part of the Hewlett-Packard division. In November 2014, Hewlett-Packard announced division into two companies to maintain competitiveness. Technology infrastructure, software, and services are part of Hewlett-Packard Enterprise Co., while personal computing and printing facilities are part of HP Inc.

source: bloomberg.com

Science & Technology

Live Facial Recognition Cameras Will Be Used By London Police

Driverless Vehicle For Its Ride-Sharing Service Unveiled By GM’s Cruise

Amazon will allow customers to pay with palms instead of cards

Complete Computer System For Self Driving Cars Launched By Qualcomm

In A Lifetime We Could Accumulate 20Kg Micro-Plastic In Our Body

Creator Of The First 'Gene-Edited' Babies Of The World Gets 3 Year Jail Term In China

China to deploy giant Beidou global navigation system in 2020

VW Zwickau factory is getting ready for electric cars production

Airbus: Passenger hybrid aircraft to take off before 2035

Ocado To Introduce ‘Mini Robotic Warehouse’ With Standard Productivity

World Politics

World & Politics

French tour operators will stop sending tourists to China until February 21

US Will Not Give Visas To Pregnant Women To Prevent Organized 'Birth Tourism'

Heads of the European Council and European Commission sign Brexit agreement

UK adds Greenpeace, PETA to extremist organizations list

Indonesia, UAE sign nearly $23B deal

US to respond to Iran’s attacks on US bases in Iraq

Irish Passport issues hit record in anticipation of Brexit

Reporters Without Borders calls to release Julian Assange