The Strategist

HP Inc. profit decreases twice

05/24/2019 - 12:09

Net profit of the American company HP Inc. decreased twice in annual terms to $ 1,585 billion in the first half of the 2018-2019 fiscal year ended on April 30.

Samuel M. Livingston
Samuel M. Livingston
Diluted earnings per share were $ 1.02 versus $ 1.81 a year earlier. Revenues for the year increased by 0.8% to $ 28.746 billion

Net income in the second quarter of the fiscal year declined by 26% to $ 782 million compared to the first quarter. Diluted earnings per share were $ 0.51 compared to $ 0.64 in the second quarter of last year. Revenue rose by 0.24% to $ 14.036 billion.

Quarterly revenue in the Personal Systems segment, which accounts for more than 60% of the company's revenue, increased by 2% in annual terms, and revenue of the Printing division decreased by 2%.

The company assumes that diluted earnings per share in the III quarter of the current fiscal year will reach $ 0.49-0.52, and will amount to $ 2.04-2.11 for the entire fiscal year. The February forecast for the fiscal year assumed earnings per share of $ 2-2.1.

HP Inc. is an American IT-company, established in 2015 with Hewlett Packard Enterprise after the division of Hewlett-Packard into two companies. In November 2014, Hewlett-Packard announced its intention to split into two companies to maintain competitiveness. Development of technologies, software and services went to Hewlett-Packard Enterprise Co., and production of computer systems and equipment for printing was transferred to HP Inc.