HP Inc. Reports Fiscal 2017 First Quarter Results

                                      Three months ended        Change (%)  
                               ------------------------------- -----------  
                                January    October    January               
                                31, 2017   31, 2016   31, 2016  Q/Q    Y/Y  
                               ---------  ---------  --------- ----   ----  
Net revenue:(a)                                                             
Personal Systems                                                            
  Notebooks                    $   4,890  $   4,636  $   4,205    5%    16% 
  Desktops                         2,534      2,572      2,527   (1)%   --  
  Workstations                       491        489        444   --     11% 
  Other                              309        321        291   (4)%    6% 
                               ---------  ---------  ---------              
    Total Personal Systems         8,224      8,018      7,467    3%    10% 
                               ---------  ---------  ---------              
Printing                                                                    
  Supplies                         3,007      2,835      3,101    6%    (3)%
  Commercial Hardware                886      1,107        964  (20)%   (8)%
  Consumer Hardware                  590        616        577   (4)%    2% 
                               ---------  ---------  ---------              
    Total Printing                 4,483      4,558      4,642   (2)%   (3)%
                               ---------  ---------  ---------              
Corporate Investments                  2          1          3  100%   (33)%
                               ---------  ---------  ---------              
    Total segments                12,709     12,577     12,112    1%     5% 
                               ---------  ---------  ---------              
Intersegment net revenue                                                    
 eliminations and other(b)           (25)       (65)       134   NM     NM  
                               ---------  ---------  ---------              
    Total net revenue          $  12,684  $  12,512  $  12,246    1%     4% 
                               =========  =========  =========              
                                                                                    
(a)    Effective  at  the  beginning  of  its  first  quarter  of  fiscal  year  2017,  HP
          implemented  an  organizational  change  to  align  its  business  unit                
          financial  reporting  more  closely  with  its  current  business  structure.    
          The  organizational  change  resulted  in  transfer  of  a  portion  of  LaserJet
          printers  from  commercial  to  consumer  within  the  Printing  segment.  HP      
          reflected  this  change  to  its  business  unit  information  in  prior                
          reporting  periods  on  an  as-if  basis  which  resulted  in  reclassification  
          of  revenues  between  the  commercial  and  consumer  business  units  of            
          Printing.  The  reporting  change  had  no  impact  to  previously  reported        
          segment  net  revenue,  consolidated  net  revenue,  earnings  from  continuing
          operations,  net  earnings  or  net  earnings  per  share.                                        
                                                                                                                                                        
(b)    "NM"-  Not  Meaningful.                                                                                                    
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        
                                                    HP  INC.  AND  SUBSIDIARIES                                                    
                                        SEGMENT  OPERATING  MARGIN  SUMMARY  DATA                                      
                                                                  (Unaudited)                                                                
                                                                                                                                                        
                                                                                                                  Change  in  Operating
                                                                Three  months  ended                      Margin  (pts)      
                                                      ----------------------------    -------------------
                                                        January      October      January                                          
                                                      31,  2017    31,  2016    31,  2016            Q/Q              Y/Y    
                                                      --------    --------    --------    ----------  --------
Segment  operating                                                                                                                      
  margin:(a)                                                                                                                                  
    Personal  Systems                            3.8%            4.3%            3.1%    (0.5)  pts    0.7  pts
    Printing                                                                                                                          (1.0)
                                                              16.0%          14.0%          17.0%        2.0  pts            pts
Corporate  Investments(b)                  NM                NM                NM                    NM              NM
        Total  segments                                                                                                          (0.3)
                                                                7.9%            7.6%            8.2%        0.3  pts            pts
                                                                                                                                                        
(a)    Effective  at  the  beginning  of  its  first  quarter  of  fiscal  year  2017,  HP
          implemented  an  organizational  change  to  align  its  business  unit                
          financial  reporting  more  closely  with  its  current  business  structure.    
          The  organizational  change  resulted  in  transfer  of  a  portion  of  LaserJet
          printers  from  commercial  to  consumer  within  the  Printing  segment.  HP      
          reflected  this  change  to  its  business  unit  information  in  prior                
          reporting  periods  on  an  as-if  basis  which  resulted  in  reclassification  
          of  revenues  between  the  commercial  and  consumer  business  units  of            
          Printing.  The  reporting  change  had  no  impact  to  previously  reported        
          segment  net  revenue,  consolidated  net  revenue,  earnings  from  continuing
          operations,  net  earnings  or  net  earnings  per  share.                                        
                                                                                                                                                        
  (b)    "NM"-  Not  Meaningful.                                                                                                  
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        
                                                    HP  INC.  AND  SUBSIDIARIES                                                    
                                CALCULATION  OF  DILUTED  NET  EARNINGS  PER  SHARE                              
                                                                  (Unaudited)                                                                
                                      (In  millions,  except  per  share  amounts)                                    
                                                                                                                                                        
                                                                                                            Three  months  ended        
                                                                                                    --------------------------
                                                                                                      January    October    January
                                                                                                    31,  2017  31,  2016  31,  2016
                                                                                                    --------  --------  --------
Numerator:                                                                                                                                    
    GAAP  net  earnings  from  continuing  operations        $        611  $        513  $        650
                                                                                                    ========  ========  ========
    Non-GAAP  net  earnings                                                      $        646  $        614  $        645
                                                                                                    ========  ========  ========
                                                                                                                                                        
Denominator:                                                                                                                                
    Weighted-average  shares  used  to  compute  basic                                                          
      net  earnings  per  share                                                        1,704        1,712        1,776
    Dilutive  effect  of  employee  stock  plans(a)                        17              17                9
                                                                                                    --------  --------  --------
    Weighted-average  shares  used  to  compute  diluted                                                      
      net  earnings  per  share                                                        1,721        1,729        1,785
                                                                                                    ========  ========  ========
                                                                                                                                                        
GAAP  diluted  net  earnings  per  share  from                                                                        
  continuing  operations                                                        $      0.36  $      0.30  $      0.36
                                                                                                    ========  ========  ========
Non-GAAP  diluted  net  earnings  per  share                      $      0.38  $      0.36  $      0.36
                                                                                                    ========  ========  ========
                                                                                                                                                        
(a)    Includes  any  dilutive  effect  of  restricted  stock  units,  stock  options    
          and  performance-based  awards.                                                                                    
                                                                                                                                                        
 

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