HP Inc. Reports Fiscal 2023 Second Quarter Results


HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS
(Unaudited)
(In millions, except per share amounts)
 
  Six months ended
  April 30, 2023  April 30, 2022
Net revenue$26,741  $33,518 
Costs and expenses:   
Cost of revenue 21,003   26,800 
Research and development 813   843 
Selling, general and administrative 2,729   2,932 
Restructuring and other charges 341   150 
Acquisition and divestiture charges 157   52 
Amortization of intangible assets 171   104 
Total costs and expenses 25,214   30,881 
Earnings from operations 1,527       2,637  
Interest and other, net   (341 )     (71 )
Earnings before taxes   1,186       2,566  
Benefit from (provision for) taxes   367       (480 )
Net earnings $ 1,553     $ 2,086  
       
Net earnings per share:      
Basic $ 1.57     $ 1.96  
Diluted $ 1.56     $ 1.94  
       
Cash dividends declared per share $ 0.53     $ 0.50  
       
Weighted-average shares used to compute net earnings per share:      
Basic   990       1,066  
Diluted   997       1,078  

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