PALO ALTO, Calif., Feb. 28, 2023 (GLOBE NEWSWIRE) -- HP (NYSE: HPQ)
- First quarter GAAP diluted net earnings per share ("EPS") of $0.49, within the previously provided outlook of $0.47 to $0.57 per share
- First quarter non-GAAP diluted net EPS of $0.75, within the previously provided outlook of $0.70 to $0.80 per share
- First quarter net revenue of $13.8 billion, down 18.8% from the prior-year period
- First quarter net cash used in operating activities of $(16) million, free cash flow of $(0.2) billion
- First quarter returned $0.4 billion to shareholders in the form of share repurchases and dividends
| HP Inc.'s fiscal 2023 first quarter financial performance | ||||||||
| Q1 FY23 | Q1 FY22 | Y/Y | ||||||
| GAAP net revenue ($B) | $ | 13.8 | $ | 17.0 | (18.8)% | |||
| GAAP operating margin | 5.5% | 8.0% | (2.5) pts | |||||
| GAAP net earnings ($B) | $ | 0.5 | $ | 1.1 | (55)% | |||
| GAAP diluted net EPS | $ | 0.49 | $ | 0.99 | (51)% | |||
| Non-GAAP operating margin | 7.8% | 8.8% | (1.0) pts | |||||
| Non-GAAP net earnings ($B) | $ | 0.7 | $ | 1.2 | (38)% | |||
| Non-GAAP diluted net EPS | $ | 0.75 | $ | 1.10 | (32)% | |||
| Net cash (used in) provided by operating activities ($B) | $ | (0.0) | $ | 1.7 | (101)% | |||
| Free cash flow ($B) | $ | (0.2) | $ | 1.4 | (114)% |
