Daily Management Review

Net profit of HP Inc decreases by 21% for 9 months of 2019-20 fiscal year


Net profit of the American IT company HP Inc for the nine months of the 2019-2020 fiscal year, which ended on July 31, amounted to $ 2.176 billion, which is 21.3% less than a year ago, the company said.

On a per share basis, diluted earnings for the reporting period were $ 1.51 versus $ 1.8 in the same period last fiscal year. The company's revenue for nine months decreased by 4.5%, to $ 41.381 billion.

The company's net profit for the third quarter of the current fiscal year decreased 1.6 times in annual terms, to $ 734 million. On a per share basis, diluted earnings were $ 0.52 versus $ 0.78 in May-July last year. The company's revenue in the third quarter decreased by 2% and amounted to $ 14.294 billion.

In the fourth quarter of the current fiscal year, the company predicts net income per share in the range of $ 0.32-0.36, and for the year - $ 1.83-1.87.

HP Inc. is an American IT company created in 2015 during the separation of Hewlett-Packard. In November 2014, Hewlett-Packard announced its intention to split into two companies to remain competitive. Technology infrastructure, software, and services went into Hewlett-Packard Enterprise Co., and personal computing systems and print media went into HP Inc.

source: bloomberg.com