PALO ALTO, Calif., Aug. 27, 2020 (GLOBE NEWSWIRE) -- HP (NYSE: HPQ)
- Third quarter GAAP diluted net earnings per share ("EPS") of $0.52, above the previously provided outlook of $0.35 to $0.41 per share
- Third quarter non-GAAP diluted net EPS of $0.49, above the previously provided outlook of $0.39 to $0.45 per share
- Third quarter net revenue of $14.3 billion, down 2.1% from the prior-year period
- Third quarter net cash from operating activities of $1.7 billion, free cash flow of $1.6 billion
- Third quarter returned $1.2 billion to shareholders in the form of share repurchases and dividends
| HP Inc. fiscal 2020 third quarter financial performance | ||||||||||||||
| Q3 FY20 | Q3 FY19 | Y/Y | ||||||||||||
| GAAP net revenue ($B) | $ | 14.3 | $ | 14.6 | (2.1 | )% | ||||||||
| GAAP operating margin | 5.4% | 7.4% | (2.0) pts | |||||||||||
| GAAP net earnings ($B) | $ | 0.7 | $ | 1.2 | (37.7 | )% | ||||||||
| GAAP diluted net EPS | $ | 0.52 | $ | 0.78 | (33.3 | )% | ||||||||
| Non-GAAP operating margin | 6.1% | 7.6% | (1.5) pts | |||||||||||
| Non-GAAP net earnings ($B) | $ | 0.7 | $ | 0.9 | (20.2 | )% | ||||||||
| Non-GAAP diluted net EPS | $ | 0.49 | $ | 0.58 | (15.5 | )% | ||||||||
| Net cash provided by operating activities ($B) | $ | 1.7 | $ | 2.3 | (28.9 | )% | ||||||||
| Free cash flow ($B) | $ | 1.6 | $ | 2.2 | (27.4 | )% | ||||||||
Notes to table
• Information about HP Inc.'s use of non-GAAP financial information is provided under "Use of non-GAAP financial information" below.
Net revenue and EPS results
HP Inc. and its subsidiaries ("HP") announced fiscal 2020 third quarter net revenue of $14.3 billion, down 2.1% (down 0.2% in constant currency) from the prior-year period.
