HP Inc. Reports Fiscal 2023 First Quarter Results

PALO ALTO, Calif., Feb. 28, 2023 (GLOBE NEWSWIRE) -- HP (NYSE: HPQ)

  • First quarter GAAP diluted net earnings per share ("EPS") of $0.49, within the previously provided outlook of $0.47 to $0.57 per share
  • First quarter non-GAAP diluted net EPS of $0.75, within the previously provided outlook of $0.70 to $0.80 per share
  • First quarter net revenue of $13.8 billion, down 18.8% from the prior-year period
  • First quarter net cash used in operating activities of $(16) million, free cash flow of $(0.2) billion
  • First quarter returned $0.4 billion to shareholders in the form of share repurchases and dividends
HP Inc.'s fiscal 2023 first quarter financial performance        
  Q1 FY23  Q1 FY22 Y/Y 
GAAP net revenue ($B)$13.8 $17.0 (18.8)% 
GAAP operating margin 5.5%  8.0% (2.5) pts 
GAAP net earnings ($B)$0.5 $1.1 (55)% 
GAAP diluted net EPS$0.49 $0.99 (51)% 
Non-GAAP operating margin 7.8%  8.8% (1.0) pts 
Non-GAAP net earnings ($B)$0.7 $1.2 (38)% 
Non-GAAP diluted net EPS$0.75 $1.10  (32)%  
Net cash (used in) provided by operating activities ($B) $ (0.0)   $ 1.7   (101)%  
Free cash flow ($B) $ (0.2)   $ 1.4   (114)%  

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