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HP's third-quarter net profit of 1.179 billion US dollars increased by 34%

via:博客园     time:2019/8/23 8:30:56     readed:87

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Tencent Technology News, according to foreign media reports, Hewlett-Packard on Thursday released the company's third quarter earnings report for the 2019 fiscal year ending July 31. According to the report, HP's third-quarter net revenue was US$1.4603 billion, up 0.1% from US$14.586 billion in the same period last year; net profit was US$1.179 billion, up 34% from US$880 million in the same period last year. Hewlett-Packard's third-quarter revenue was less than expected, and adjusted earnings per share were in line with Wall Street analysts' expectations. The stock fell 6.29% after the close.

Revenue:

In the fiscal quarter ended July 31, HP's net revenue was US$14.603 billion, up 0.1% from US$14.586 billion in the same period last year. Excluding the impact of exchange rate changes, it increased by 2% year-on-year. Analysts had expected. Thomson Reuters survey showed that analysts on average expected HP's third-quarter net revenue of $ 14.61 billion. Among them: Personal Systems Group's revenue was US$9.69 billion, up 3% from US$9.395 billion in the same period last year, and US$8.921 billion in the previous fiscal quarter; operating profit margin was 5.6%. Within the Personal Systems Group, notebook business revenue was $5.63 billion, which was the same as last year's $5.634 billion; desktop business revenue was $3.111 billion, up 8% from $2.869 billion in the same period last year; workstation business revenue was US$609 million, up 4% from US$588 million in the same period last year; revenue from other businesses was US$340 million, up 12% from US$304 million in the same period last year.

Printing Group's revenue was US$4.912 billion, down 5% from US$5.188 billion in the same period last year, down from US$5.116 billion in the previous fiscal quarter; operating profit margin was 15.6%. Within the print group, material revenue was $3,164 million, down 7% from $3,405 million in the same period last year; commercial hardware revenue was $1,160 million, up 3% from $1,129 million in the same period last year; personal hardware revenue was 5.88 US$100 million, down 10% from US$654 million in the same period last year.

Costs and expenses:

HP's third-quarter total cost and expenses were $13.624 billion, slightly lower than the $13.568 billion in the same period last year. among them:

  • The cost of revenue was US$11.698 billion, down from US$11.98 billion in the same period last year;
  • R&D expenditure was US$ 413 million, up from US$ 347 million in the same period last year;
  • Sales, general and administrative expenses were $1.376 billion, up from $1,289 million in the same period last year;
  • Restructuring and other expenses were $17 million, up from $4 million in the same period last year;
  • M&A-related expenses were -$9 million, compared to $10 million in the same period last year;
  • Expenditure on intangible assets was $29 million, compared to $20 million in the same period last year;

profit:

HP's third-quarter net profit was $1,179 million, better than the $880 million in the same period last year, better than the $782 million in the previous quarter. HP's third-quarter diluted earnings per share were $0.78, better than the $0.54 in the same period last year, better than the previous quarter's $0.51.

Not in accordance with US GAAP, HP's third-quarter net profit was $900 million, up 4.8% from $800 million in the same period last year; earnings per share were $0.58, up 11.5% from $0.52 in the same period last year, exceeding analysts' previous expected. According to a Thomson Reuters survey, analysts expect HP's third-quarter earnings per share to be $0.55.

Other financial information:

HP's third-quarter business operations provided net cash of $2.3 billion and its own cash flow of $2.2 billion.

Hewlett-Packard distributed a quarterly dividend of $0.1602 per share in the third quarter, with a cash use of $200 million for dividends. In addition, HP also used the $500 million in cash in the third quarter to repurchase approximately 26.5 million shares of common stock on the open market. At the end of the third quarter, HP held a total of $4.9 billion in gross cash.

Performance outlook:

For the fourth quarter of FY 2019, HP expects diluted earnings per share to be between $0.51 and $0.55; not in accordance with US GAAP, diluted earnings per share is expected to be between $0.55 and $0.59, with It was $0.57, lower than market expectations. According to a Thomson Reuters survey, analysts expect HP's second-quarter adjusted earnings per share to reach $0.58.

Stock price changes:

Hewlett-Packard shares fell $0.03 on the New York Stock Exchange's regular trading on Thursday, down 0.16% to close at $18.93. At the time of writing, the company's share price fell 1.19 US dollars in after-hours trading, a decrease of 6.29%, to close at 17.72 US dollars. In the past 52 weeks, HP's lowest share price was $18.06 and the highest share price was $27.08. Based on Thursday's closing price, HP's market capitalization is about $28.5 billion. (Tencent Technology Compilation / Ming Xuan)

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