HP Inc. Reports Fiscal 2020 Full Year and Fourth Quarter Results


HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS
(Unaudited)
(In millions, except per share amounts)


  Twelve months ended
  October 31, 2020  October 31, 2019
Net revenue$56,639   $58,756  
Costs and expenses:   
Cost of revenue46,202   47,586  
Research and development1,478   1,499  
Selling, general and administrative4,906   5,368  
Restructuring and other charges462   275  
Acquisition-related charges16   35  
Amortization of intangible assets113   116  
Total costs and expenses53,177   54,879  
    
Earnings from operations3,462   3,877  
Interest and other, net(231) (1,354)
Earnings before taxes3,231   2,523  
(Provision for) benefit from taxes(387) 629  
Net earnings$ 2,844      $ 3,152   
       
Net earnings per share:      
Basic $ 2.01      $ 2.08   
Diluted $ 2.00      $ 2.07   
       
Cash dividends declared per share $ 0.70      $ 0.64   
       
Weighted-average shares used to compute net earnings per share:      
Basic 1,413      1,515   
Diluted 1,420      1,524   

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