The OEM announced their Q2 for fiscal year 2017 earnings, showing net earnings of $12.4 billion (€11.03 billion) up seven percent from the prior-year period.
HP reported that there was an increase of seven percent and General Accepted Accounting Principles (GAAP) had “diluted net earnings per share (EPS)”. Printing revenue was up by two percent YOY with hardware units up by four percent and commercial hardware by six percent while consumer hardware was up by three percent. Printing supplies sales contributed 25% to the revenue.
In the company’s prediction for the fiscal 2017 third quarter,HP Inc estimates GAAP diluted net EPS from continuing operations to be in the range of $0.36 to $0.40 and non-GAAP diluted net EPS to be in the range of $0.40 to $0.43.
Dion Weisler, President and CEO, HP Inc, commented: “This was a breakthrough quarter for HP, and marks the first time both Personal Systems and Print have grown in the same quarter since 2010. We’re delivering solid performance across our portfolio, in all regions, and on key financial metrics. Our team is taking profitable share, out-executing our competitors and delivering some of the best innovation in HP’s history. It’s clear our reinvention is paying off.”