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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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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