HP Inc. Reports Fiscal 2018 Full Year and Fourth Quarter Results

 
 
HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS
(Unaudited)
(In millions, except per share amounts)
 
  Three months ended
  October 31,
2018
  July 31,
2018
  October 31,
2017
Net revenue$15,366 $14,586 $13,927
Costs and expenses:     
Cost of revenue12,669 11,898 11,407
Research and development354 347 291
Selling, general and administrative1,210 1,227 1,177
Restructuring and other charges40 4 113
Acquisition-related charges26 10 49
Amortization of intangible assets20 20 
Total costs and expenses14,319 13,506 13,037
      
Earnings from operations1,047 1,080 890
Interest and other, net(40) (62) (42)
Earnings before taxes1,007 1,018 848
Benefit from (provision for) taxes444 (138) (188)
Net earnings$1,451 $880 $660
      
Net earnings per share:     
Basic$0.92 $0.55 $0.40
Diluted$0.91 $0.54 $0.39
      
Cash dividends declared per share$ $0.28 $
      
Weighted-average shares used to compute net earnings per share:     
Basic1,578 1,601 1,670
Diluted1,598 1,618 1,687
      


 
HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS
(Unaudited)
(In millions, except per share amounts)
 
  Twelve months ended October 31,
  2018  2017
Net revenue$58,472 $52,056
Costs and expenses:   
Cost of revenue 47,803   42,478
Research and development 1,404   1,190
Selling, general and administrative 4,866   4,381
Restructuring and other charges 132   362
Acquisition-related charges 123   125
Amortization of intangible assets 80   1
Total costs and expenses 54,408   48,537
       
Earnings from operations 4,064   3,519
Interest and other, net (1,051)   (243)
Earnings before taxes 3,013   3,276
Benefit from (provision for) taxes 2,314   (750)
Net earnings 5,327   2,526
       
Net earnings per share:      
Basic $ 3.30   $ 1.50
Diluted $ 3.26   $ 1.48
       
Cash dividends declared per share $ 0.56   $ 0.53
       
Weighted-average shares used to compute net earnings per share:      
Basic 1,615   1,688
Diluted 1,634   1,702
       

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