HP Inc. Reports Fiscal 2018 Third Quarter Results


(a) Effective at the beginning of its first quarter of fiscal year 2018, HP implemented an organizational change to align its segment and business unit financial reporting more closely with its current business structure. The organizational change resulted in the transfer of long life consumables from Commercial to Supplies within the Printing segment. Certain revenues related to service arrangements, which are being eliminated for the purposes of reporting HP’s consolidated net revenue, have now been reclassified from Other to segments. HP has reflected this change to its segment and business unit information in prior reporting periods on an as-if basis. The reporting change had no impact to previously reported consolidated net revenue, earnings from operations, net earnings or net earnings per share.
   
(b) "NM" represents not meaningful.
   


 
HP INC. AND SUBSIDIARIES
SEGMENT/BUSINESS UNIT INFORMATION
(Unaudited)
(In millions)
 
  Nine months ended July 31,  Change (%)
  2018  2017  Y/Y
Net revenue:(a)     
Personal Systems     
Notebooks$16,382  $14,391  14%
Desktops8,576  7,477  15%
Workstations1,669  1,516  10%
Other970  870  11%
Total Personal Systems27,597  24,254  14%
Printing     
Supplies10,190  9,368  9%
Commercial Hardware3,426  2,715  26%
Consumer Hardware1,889  1,786  6%
Total Printing15,505  13,869  12%
Corporate Investments3  7  (57)%
Total segments43,105  38,130  13%
Other(b)1  (1) NM
Total net revenue$43,106  $38,129  13%
          


(a) Effective at the beginning of its first quarter of fiscal year 2018, HP implemented an organizational change to align its segment and business unit financial reporting more closely with its current business structure. The organizational change resulted in the transfer of long life consumables from Commercial to Supplies within the Printing segment. Certain revenues related to service arrangements, which are being eliminated for the purposes of reporting HP’s consolidated net revenue, have now been reclassified from Other to segments. HP has reflected this change to its segment and business unit information in prior reporting periods on an as-if basis. The reporting change had no impact to previously reported consolidated net revenue, earnings from operations, net earnings or net earnings per share.
   
(b) "NM" represents not meaningful.
   


 
HP INC. AND SUBSIDIARIES
SEGMENT OPERATING MARGIN SUMMARY
(Unaudited)
 
  Three months ended   Change in Operating Margin (pts)
  July 31, 2018   April 30, 2018   July 31, 2017   Q/Q   Y/Y
Segment operating margin: (a)                  
Personal Systems 3.9%   3.8%   3.7%   0.1pts   0.2pts
Printing 16.0%   16.0%   17.3%   —pts   (1.3)pts
   Corporate Investments (b) NM   NM   NM   NM   NM
Total segments 8.1%   8.2%   8.4%   (0.1)pts   (0.3)pts
                   

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