HP Inc. Reports Fiscal 2020 Third Quarter Results

PALO ALTO, Calif., Aug. 27, 2020 (GLOBE NEWSWIRE) -- HP (NYSE: HPQ)

  • Third quarter GAAP diluted net earnings per share ("EPS") of $0.52, above the previously provided outlook of $0.35 to $0.41 per share
  • Third quarter non-GAAP diluted net EPS of $0.49, above the previously provided outlook of $0.39 to $0.45 per share
  • Third quarter net revenue of $14.3 billion, down 2.1% from the prior-year period
  • Third quarter net cash from operating activities of $1.7 billion, free cash flow of $1.6 billion
  • Third quarter returned $1.2 billion to shareholders in the form of share repurchases and dividends
HP Inc. fiscal 2020 third quarter financial performance 
  Q3 FY20 Q3 FY19 Y/Y 
GAAP net revenue ($B) $14.3  $14.6  (2.1)% 
GAAP operating margin 5.4%  7.4%  (2.0) pts 
GAAP net earnings ($B) $0.7  $1.2  (37.7)% 
GAAP diluted net EPS $0.52  $0.78  (33.3)% 
Non-GAAP operating margin 6.1%  7.6%  (1.5) pts 
Non-GAAP net earnings ($B) $0.7  $0.9  (20.2)% 
Non-GAAP diluted net EPS $0.49  $0.58  (15.5)% 
Net cash provided by operating activities ($B) $1.7  $2.3  (28.9)% 
Free cash flow ($B) $1.6  $2.2  (27.4)% 

Notes to table
• Information about HP Inc.'s use of non-GAAP financial information is provided under "Use of non-GAAP financial information" below.

Net revenue and EPS results
HP Inc. and its subsidiaries ("HP") announced fiscal 2020 third quarter net revenue of $14.3 billion, down 2.1% (down 0.2% in constant currency) from the prior-year period.

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