HP Inc. Reports Fiscal 2023 Second Quarter Results


HP INC. AND SUBSIDIARIES
SEGMENT/BUSINESS UNIT INFORMATION
(Unaudited)
(In millions)
 
  Three months ended  Change (%)
  April 30, 2023  January 31, 2023  April 30, 2022  Q/Q  Y/Y
Net revenue:         
Commercial PS$5,922  $6,429  $7,817  (8)% (24)%
Consumer PS 2,254   2,786   3,715  (19)% (39)%
Personal Systems(a) 8,176   9,215   11,532  (11)% (29)%
Supplies 3,006       2,857       3,131     5  %   (4 )%
Commercial Printing   1,089       1,056       1,042     3  %   5  %
Consumer Printing   641       699       790     (8 )%   (19 )%
Printing   4,736       4,612       4,963     3  %   (5 )%
Corporate Investments (c)   3       1           NM   NM
Total segment net revenue   12,915       13,828       16,495     (7 )%   (22 )%
Other (c)   (2 )           (5 )   NM   NM
Total net revenue $ 12,913     $ 13,828     $ 16,490     (7 )%   (22 )%
                   
Earnings before taxes: (b)                  
Personal Systems $ 445     $ 497     $ 794          
Printing   899       870       949          
Corporate Investments   (38 )     (33 )     (52 )        
Total segment earnings from operations   1,306       1,334       1,691          
Corporate and unallocated cost and other   (90 )     (92 )     (177 )        
Stock-based compensation expense   (95 )     (167 )     (70 )        
Restructuring and other charges   (200 )     (141 )     (82 )        
Acquisition and divestiture charges   (73 )     (84 )     (32 )        
Amortization of intangible assets   (86 )     (85 )     (52 )        
Interest and other, net   (160 )     (181 )     (39 )        
Total earnings before taxes $ 602     $ 584     $ 1,239          

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