As in prior periods, the financial information set forth in this document, including any tax-related items, reflects estimates based on information available at this time. While HP believes these estimates to be reasonable, these amounts could differ materially from reported amounts in HP’s Quarterly Reports on Form 10-Q for the fiscal quarters ended April 30, 2022 and July 31, 2022, Annual Report on Form 10-K for the fiscal year ended October 31, 2022, and HP’s other filings with the Securities and Exchange Commission. The forward-looking statements in this document are made as of the date of this document and HP assumes no obligation and does not intend to update these forward-looking statements.
HP’s Investor Relations website at investor.hp.com contains a significant amount of information about HP, including financial and other information for investors. HP encourages investors to visit its website from time to time, as information is updated, and new information is posted. The content of HP’s website is not incorporated by reference into this document or in any other report or document HP files with the SEC, and any references to HP’s website are intended to be inactive textual references only.
| HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS (Unaudited) (In millions, except per share amounts) | |||||||||||
| Three months ended | |||||||||||
| April 30, 2022 | January 31, 2022 | April 30, 2021 | |||||||||
| Net revenue | $ | 16,490 | $ | 17,028 | $ | 15,877 | |||||
| Costs and expenses: | |||||||||||
| Cost of revenue | 13,157 | 13,643 | 12,437 | ||||||||
| Research and development | 425 | 418 | 514 | ||||||||
| Selling, general and administrative | 1,464 | 1,468 | 1,483 | ||||||||
| Restructuring and other charges | 82 | 68 | 39 | ||||||||
| Acquisition-related charges | 32 | 20 | 10 | ||||||||
| Amortization of intangible assets | 52 | 52 | 32 | ||||||||
| Total costs and expenses | 15,212 | 15,669 | 14,515 | ||||||||
| Earnings from operations | 1,278 | 1,359 | 1,362 | ||||||||
| Interest and other, net | (39 | ) | (32 | ) | (26 | ) | |||||
| Earnings before taxes | 1,239 | 1,327 | 1,336 | ||||||||
| Provision for taxes | (239 | ) | (241 | ) | (108 | ) | |||||
| Net earnings | $ | 1,000 | $ | 1,086 | $ | 1,228 | |||||
| Net earnings per share: | |||||||||||
| Basic | $ | 0.95 | $ | 1.00 | $ | 1.00 | |||||
| Diluted | $ | 0.94 | $ | 0.99 | $ | 0.98 | |||||
| Cash dividends declared per share | $ | — | $ | 0.50 | $ | — | |||||
| Weighted-average shares used to compute net earnings per share: | |||||||||||
| Basic | 1,050 | 1,081 | 1,234 | ||||||||
| Diluted | 1,062 | 1,094 | 1,247 | ||||||||
.
