HP Inc. Reports Fiscal 2021 Second Quarter Results

PALO ALTO, Calif., May 27, 2021 (GLOBE NEWSWIRE) -- HP (NYSE: HPQ)

  • Second quarter GAAP diluted net earnings per share ("EPS") of $0.98, above the previously provided outlook of $0.82 to $0.88 per share
  • Second quarter non-GAAP diluted net EPS of $0.93, above the previously provided outlook of $0.84 to $0.90
    per share
  • Second quarter net revenue of $15.9 billion, up 27.3% from the prior-year period
  • Second quarter net cash provided by operating activities of $1.4 billion, free cash flow of $1.3 billion
  • Second quarter returned $1.8 billion to shareholders in the form of share repurchases and dividends

HP Inc.'s fiscal 2021 second quarter financial performance

  Q2 FY21 Q2 FY20 Y/Y
GAAP net revenue ($B)$15.9 $12.5 27.3%
GAAP operating margin8.6% 6.6% 2.0 pts
GAAP net earnings ($B)$1.2 $0.8 61%
GAAP diluted net EPS$0.98 $0.53 85%
Non-GAAP operating margin9.1% 7.5% 1.6 pts
Non-GAAP net earnings ($B)$1.2 $0.7 56%
Non-GAAP diluted net EPS$0.93 $0.51 82%
Net cash provided by (used in) operating activities ($B)$1.4 $(0.5) NM
Free cash flow ($B)$1.3 $(0.6) NM

Notes to table

  • Information about HP Inc.'s use of non-GAAP financial information is provided under "Use of non-GAAP financial information" below.
  • NM – Not meaningful

Net revenue and EPS results
HP Inc. and its subsidiaries (“HP”) announced fiscal 2021 second quarter net revenue of $15.9 billion, up 27.3% (up 25.4% in constant currency) from the prior-year period.

Second quarter GAAP diluted net EPS was $0.98, up from $0.53 in the prior-year period and above the previously provided outlook of $0.82 to $0.88. Second quarter non-GAAP diluted net EPS was $0.93, up from $0.51 in the prior-year period and above the previously provided outlook of $0.84 to $0.90. Second quarter non-GAAP net earnings and non-GAAP diluted net EPS exclude after-tax adjustments of $70 million, or $0.05 per diluted share, related to restructuring and other charges, acquisition-related charges, amortization of intangible assets, non-operating retirement-related (credits)/charges, and tax adjustments.

“We delivered another strong quarter, with double-digit top and bottom line growth. HP technology is increasingly at the heart of hybrid work and we are benefitting from exceptional demand for our products and services,” said Enrique Lores, HP President and CEO. “Our performance and our positive outlook for the full year reflect the relevance of our innovation, the resilience of our business model, and the operational excellence of our teams.”

1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14  Next Page »



Review Article Be the first to review this article
SolidCAM - See for yourself


Featured Video
Editorial
Jobs
Engineer IV for State of Nebraska at Lincoln, California
Product Design Engineer - Softgoods for Apple Inc at Cupertino, California
Director, Industrial Machinery Solutions- SISW PLM for Siemens AG at Livonia, Michigan
Mechanical Engineer for Deeter Foundry at Lincoln, Nebraska
Service Software Expert-CATIA & CAA for Dassault Systemes at Shanghai, China
Geospatial Mapping Training and Support Specialist for Duncan-Parnell Inc. at Morrisville, North Carolina
Upcoming Events
RAPID + TCT at McCormick Place Chicago IL - Sep 13 - 15, 2021
WESTEC Online at Online CA - Sep 21 - 23, 2021
3D Collaboration & Interoperability Congress at Golden CO - Feb 21 - 24, 2022
Kenesto: 30 day trial



© 2021 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise