HP Inc's net profit falls by 9% in the first half of 2019-2020


05/28/2020

Net income of HP Inc. amounted to $ 1.442 billion according to the results of the first six months of the 2019-2020 financial year ending April 30. This is 9% lower compared to the same period of the previous financial year, the company reports.



Samuel M. Livingston via flickr
Diluted earnings per share in the reporting period amounted to $ 0.99 versus $ 1.02 for the same period a year earlier. At the same time, the company's revenue for the fiscal year decreased by 5.7% and amounted to $ 27.087 billion.

The company's net profit for the second quarter of the financial year decreased by 2.3% compared to the previous one, to $ 764 million. Diluted earnings per share for the reporting period amounted to $ 0.53 versus $ 0.51 for the same period last year. The company's revenue for the second quarter decreased by 11% and amounted to $12.469 billion.

The figures include quarterly revenue in the Personal Computer Systems segment (Personal Systems), which accounted for more than 60% of the company's revenue, decreased in annual terms by 7%, and printing units (Printing) - by 19% year-on-year.

In the third quarter of the current fiscal year, the company predicts diluted earnings per share of $ 0.35-0.41. At the same time, noting the level of uncertainty regarding the duration of the pandemic, as well as the timing and pace of economic recovery, the company did not provide a forecast for the entire financial year. 

source: bloomberg.com