- Net revenue of $27.5 billion, down 2% from the prior year and up 4% in constant currency
- GAAP operating profit down 14% to $2.2 billion; GAAP earnings per share $0.67, down from $0.80 a year earlier
- Non-GAAP operating profit up 8% to $3.0 billion; non-GAAP earnings per share $0.91, up from $0.86 a year earlier
- Cash flow from operations of $3.9 billion, up 15% from the prior year
- Record Services profit of $1.3 billion
In the third quarter, GAAP operating profit was $2.2 billion and GAAP diluted earnings per share (EPS) was $0.67, down from $0.80 in the prior-year period. Non-GAAP operating profit was $3.0 billion, with non-GAAP diluted EPS of $0.91, up from $0.86 in the prior-year period. Non-GAAP financial information excludes $568 million of adjustments on an after-tax basis, or $0.24 per diluted share, related primarily to amortization of purchased intangible assets, restructuring charges and acquisition-related charges.
“HP’s performance this quarter is a result of our strong business portfolio, efficient cost structure and scale. We made positive gains in extending our market leadership in key segments and strengthening our competitive position,” said Mark Hurd, HP chairman and chief executive officer. “Business is stabilizing, and we are confident that HP will be an early beneficiary of an economic turnaround and will continue to outperform when conditions improve.”
| Q3 FY09 | Q3 FY08 | Y/Y | |||||||||
| Net revenue ($B) | $ | 27.5 | $ | 28.0 | -2 | % | |||||
| GAAP operating margin | 7.9 | % | 9.0 | % | (1.1 pts) | ||||||
|
GAAP net earnings ($B) |
$ | 1.6 | $ | 2.0 | -19 | % | |||||
| GAAP diluted EPS | $ | 0.67 | $ | 0.80 | -16 | % | |||||
| Non-GAAP operating margin | 10.8 | % | 9.8 | % | 1.0 pts | ||||||
|
Non-GAAP net earnings ($B) |
$ | 2.2 | $ | 2.2 | 1 | % | |||||
| Non-GAAP diluted EPS | $ | 0.91 | $ | 0.86 | 6 | % | |||||
