HP Inc. (NYSE:HPQ) released its third-quarter results after Wednesday's closing bell. Here's a look at the key figures from the quarter.
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The Details: HP reported quarterly earnings of 75 cents per share, which met the consensus estimate.
Quarterly revenue clocked in at $13.93 billion, which beat the analyst consensus estimate of $13.69 billion.
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HP reported the following Q3 segment results:
- Personal Systems net revenue was $9.9 billion, up 6% year-over-year with a 5.4% operating margin. Consumer PS net revenue was up 8% and Commercial PS net revenue was up 5%. Total units were up 5% with Consumer PS units up 8% and Commercial PS units up 3%.
- Printing net revenue was $4 billion, down 4% year-over-year with a 17.3% operating margin. Consumer Printing net revenue was down 8% and Commercial Printing net revenue was down 3%. Supplies net revenue was down 4%. Total hardware units were down 9%, with Consumer Printing units down 8% and Commercial Printing units down 12%.
“In Q3 we delivered a fifth consecutive quarter of revenue growth, driven by strength in Personal Systems and strong momentum in our key growth areas,” said Enrique Lores, CEO of HP.
“These results demonstrate our agility and focused execution in the quarter, reinforce the strength of our strategy, and our commitment to be a leader in the future of work,” Lores added.
Outlook: HP estimates fourth-quarter non-GAAP diluted net EPS to be in the range of 87 cents to 97 cents, versus the 92 cent estimate.
HPQ Stock Price: According to data from Benzinga Pro, HP stock was up 1.18% at $27.43 in Wednesday's extended trading.
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