HP Inc. (NYSE: HPQ) beat revenue and earnings expectations for the fourth quarter of 2019. Shares were up 2% in aftermarket hours on Tuesday.
Total revenue of $15.4 billion was up 0.3% from the same period last year and above the estimates of $15.2 billion.
On a GAAP basis, net income fell more than 70% to $0.4 billion, or $0.26 per share. The results came below the company’s outlook of $0.51-0.55. Adjusted net income rose 4% year-over-year to $0.9 billion while adjusted EPS increased 11% to $0.60. Adjusted EPS came above the company’s outlook range of $0.55-0.59 as well as analysts’ projections of $0.58 per share.
Personal Systems net revenue was up 4% year-over-year. Commercial net revenue increased 8% while consumer net revenue fell 4%. Printing net revenue declined 6% year-over-year, with a 7% drop in supplies net revenue.
For the first quarter of 2020, HP estimates GAAP EPS to be in the range of $0.39 to $0.42 and adjusted EPS to be in the range of $0.53 to $0.56.
For fiscal 2020, HP estimates GAAP EPS to be in the range of $2.00 to $2.10 and adjusted EPS to be in the range of $2.24 to $2.32.
HP’s dividend payment of $0.1602 per share in the fourth quarter resulted in cash usage of $0.2 billion. HP also spent $0.5 billion of cash to repurchase approx. 25 million shares of common stock.
Earlier we looked into how, during the COVID-19 pandemic, retailers saw changing trends in terms of their assortments and how the acceleration of online shopping led many of them to
Data is at the heart of business innovation. Recognizing this trend, companies are seeking ways to transform their businesses by capturing, analyzing, and mobilizing data. The public cloud is becoming
The second half has been highly rewarding for design software maker Adobe Inc. (NASDAQ: ADBE) amid stable demand for digital content solutions. The company has remained unaffected by the virus-related