The OEM reported a slight increase of one percent in net revenue.
HP’s results included the aforementioned net revenue increase of one percent to $27.6 billion (€20.7 billion) over the quarter, with operating company net cash up to $4.9 billion (€3.6 billion), a “sequential improvement” of $2.2 billion (€1.6 billion).
Cash flow from operations grew 36 percent year-over-year to $3.6 billion (€2.7 billion), and $881 million (€663 million) was returned to shareholders “in the form of share repurchases and dividends”. Other results referred to generally accepted accounting principles (GAAP), which are the standard guidelines for financial accounting, also known as accounting standards.
The OEM’s third quarter non-GAAP diluted net earnings per share increased three percent year-over-year to $0.89 (€0.67), meeting a prior prediction of between $0.86 (€0.64) and $0.90 (€0.68) per share. In turn, third quarter GAAP diluted net earnings per share fell 27 percent year-over-year to $0.52 (€0.39), lower than the predicted range between $0.59 (€0.44) and $0.63 (€0.47) per share.