HP Inc. Beats Q2 Estimates with $12.8B Revenue, $0.82 EPS; Forecasts Q3 EPS $0.78-$0.92

May 29, 2024, 08:22 PM

HP Inc. reported its second-quarter earnings for fiscal year 2024, showing a solid performance by beating both top and bottom line estimates. The company reported adjusted earnings per share (EPS) of $0.82, surpassing the estimated $0.81. Revenue for the quarter was $12.8 billion, exceeding the expected $12.6 billion. HP's Personal Systems segment saw a revenue increase of 3% to $8.43 billion, while the Printing segment experienced an 8% decline to $4.37 billion. The overall revenue was down 0.8% year-over-year. For the third quarter, HP forecasts adjusted EPS in the range of $0.78 to $0.92, compared to the estimate of $0.85. The company also updated its full-year guidance, projecting adjusted EPS between $3.30 and $3.60, slightly revised from the previous range of $3.25 to $3.65. The GAAP diluted EPS for the second quarter was $0.61. HP also reported an operating margin of 7.4%.