HP Inc. today announced Hewlett-Packard Company financial results for fiscal 2015 and the fourth quarter ended October 31, 2015. These results include Hewlett Packard Enterprise Company ("Hewlett Packard Enterprise"), Hewlett-Packard Company's former enterprise technology infrastructure, software, services and financing businesses, which separated from Hewlett-Packard Company on November 1, 2015. In connection with this separation, Hewlett-Packard Company changed its name to HP Inc. effective as of October 31, 2015. Accordingly, references to "HP" in this news release refer to Hewlett-Packard Company with respect to events occurring on or prior to October 31, 2015, and to HP Inc. with respect to events occurring after October 31, 2015.

• Fiscal 2015 net revenue of $103.4 billion, down 7% from the prior-year period and down 2% on a constant currency basis
• Fiscal 2015 non-GAAP diluted net earnings per share of $3.59, within the previously provided outlook of $3.59 to $3.65 per share
• Fiscal 2015 GAAP diluted net earnings per share of $2.48, above the previously provided outlook of $1.87 to $1.93 per share
• Fiscal 2015 cash flow from operations of $6.5 billion, down 47% from the prior-year period
• Returned $4.1 billion to shareholders in the form of share repurchases and dividends in fiscal 2015, which was in excess of 100% of fiscal 2015 free cash flow
• Fourth quarter net revenue of $25.7 billion, down 9% from the prior-year period and down 3% on a constant currency basis
• Fourth quarter non-GAAP diluted net earnings per share of $0.93, within the previously provided outlook of $0.92 to $0.98 per share
• Fourth quarter GAAP diluted net earnings per share of $0.73, above the previously provided outlook of $0.12 to $0.18 per share
• Fourth quarter cash flow from operations of $2.6 billion, down 3% from the prior-year period
• Returned $0.6 billion to shareholders in the form of share repurchases and dividends in the fourth quarter
• Operating company net cash of $3.1 billion, a sequential improvement of $1.2 billion

HP fiscal 2015 full-year and fourth quarter financial performance

                                                                            
                                                                            
                          FY15   FY14      Y/Y    Q4 FY15 Q4 FY14     Y/Y   
GAAP net revenue ($B)    $103.4 $111.5       (7%)   $25.7   $28.4       (9%)
GAAP operating margin      5.3%   6.4% (1.1 pts.)    3.4%    6.7% (3.3 pts.)
GAAP net earnings ($B)     $4.6   $5.0       (9%)    $1.3    $1.3       (1%)
GAAP diluted net                                                            
 earnings per share       $2.48  $2.62       (5%)   $0.73   $0.70         4%
Non-GAAP operating                                                          
 margin                    8.8%   8.8%   0.0 pts.    9.1%    9.6% (0.5 pts.)
Non-GAAP net earnings                                                       
 ($B)                      $6.6   $7.1       (8%)    $1.7    $2.0      (16%)
Non-GAAP diluted net                                                        
 earnings per share       $3.59  $3.74       (4%)   $0.93   $1.06      (12%)
Cash flow from                                                              
 operations ($B)           $6.5  $12.3      (47%)    $2.6    $2.7       (3%)
                                                                            
                                                                            

Information about HP's use of non-GAAP financial information is provided under "Use of non-GAAP financial information" below.

Fiscal 2015 net revenue of $103.4 billion was down 7% from the prior-year period and down 2% on a constant currency basis.

Fiscal 2015 GAAP diluted net earnings per share (EPS) was $2.48, down from $2.62 in the prior-year period and above the previously provided outlook of $1.87 to $1.93 per share. Fiscal 2015 non-GAAP diluted net EPS was $3.59, down from $3.74 in the prior-year period and within the previously provided outlook of $3.59 to $3.65 per share. Fiscal 2015 non-GAAP net earnings and non-GAAP diluted net EPS exclude (i) net income tax benefits of $0.8 billion and $0.44 per diluted share, respectively, related to one-time, non-cash entries comprised of a number of different tax items, including the reversal of a previously recorded US tax valuation allowance and (ii) after-tax costs of $2.8 billion and $1.55 per diluted share, respectively, related primarily to separation costs, restructuring charges and the amortization of intangible assets.