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Apr 30, 2023
HP Q2 2023 Earnings Report
HP reported mixed results with EPS above outlook but revenue down year-over-year.
Key Takeaways
HP Inc. reported fiscal 2023 second quarter results with net revenue of $12.9 billion, a 21.7% decrease year-over-year. GAAP diluted net EPS was $1.07, while non-GAAP diluted net EPS was $0.80. The company generated $0.5 billion in free cash flow and returned $0.3 billion to shareholders in dividends.
GAAP diluted net EPS was $1.07, exceeding the previously provided outlook.
Non-GAAP diluted net EPS was $0.80, within the previously provided outlook.
Net revenue was $12.9 billion, down 21.7% from the prior-year period.
Free cash flow was $0.5 billion for the quarter.
HP
HP
HP Revenue by Segment
Revenue by Segment
Personal Systems Revenue
CapyFin.comPrinting Revenue
CapyFin.com Forward Guidance
For the fiscal 2023 third quarter, HP estimates GAAP diluted net EPS to be in the range of $0.61 to $0.71 and non-GAAP diluted net EPS to be in the range of $0.81 to $0.91. For fiscal 2023, HP estimates GAAP diluted net EPS to be in the range of $2.91 to $3.11 and non-GAAP diluted net EPS to be in the range of $3.30 to $3.50. For fiscal 2023, HP anticipates generating free cash flow in the range of $3.0 to $3.5 billion.
Positive Outlook
- GAAP diluted net EPS to be in the range of $0.61 to $0.71 for Q3 2023.
- Non-GAAP diluted net EPS to be in the range of $0.81 to $0.91 for Q3 2023.
- GAAP diluted net EPS to be in the range of $2.91 to $3.11 for fiscal year 2023.
- Non-GAAP diluted net EPS to be in the range of $3.30 to $3.50 for fiscal year 2023.
- Free cash flow in the range of $3.0 to $3.5 billion for fiscal year 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income