HP Inc has recently announced its fiscal 2019 full-year and fourth quarter results, reporting a decrease in its net revenue for its printing segment.
According to the report the company’s printing net revenue was down six per cent YoY, with a 15.6 per cent operating margin.
Its net revenue from total hardware unit sales was down nine per cent, with commercial hardware unit sales down by one per cent. Consumer hardware unit sales were down to per cent, while the net revenue for supplies was down seven per cent.
Overall, its net revenue of US$58.8 billion was up by 0.5 per cent from the prior-year period, while its fiscal 2019 GAAP diluted net EPS was US$2.07, down from US$3.26 in the prior-year period and below the previously provided outlook of US$2.31 to US$2.35.
Fiscal 2019 non-GAAP diluted net EPS was reported to be US$2.24, up from US$2.02 in the prior-year period and above the previously provided outlook of US$2.18 to US$2.22.
As for its fourth quarter net revenue, it amounted to US$15.4 billion, up by 0.3 per cent from the prior-year period.
The fourth quarter GAAP diluted net EPS was US$0.26, down from US$0.91 in the prior-year period and below the previously provided outlook of US$0.51 to US$0.55.
Its fourth quarter non-GAAP diluted net EPS was US$0.60, up from US$0.54 in the prior-year period and above the previously provided outlook of US$0.55 to US$0.59.
“2019 marks our third consecutive year of revenue, non-GAAP operating profit and non-GAAP earnings growth, with non-GAAP EPS up 11 per cent and strong free cash flow of $4 billion,” HP Inc president and CEO Enrique Lores said.
“We delivered an excellent Q4, with 11 per cent non-GAAP EPS growth. Our strategy is working, and we are confident in our business heading into FY20.”
For the first quarter of 2020, HP estimates its GAAP diluted net EPS to be in the range of US$0.39 to US$0.42 and non-GAAP diluted net EPS to be in the range of US$0.53 to US$0.56.
For fiscal 2020, HP estimates its GAAP diluted net EPS to be in the range of US$2.00 to US$2.10 and non-GAAP diluted net EPS to be in the range of US$2.24 to US$2.32.
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