HEWLETT-PACKARD COMPANY AND SUBSIDIARIES SEGMENT/BUSINESS UNIT INFORMATION (Unaudited) (In millions) Six months ended April 30, ------------------------ 2015 2014 ----------- ----------- Net revenue:(a) Printing and Personal Systems Group Personal Systems Notebooks $ 8,894 $ 8,312 Desktops 5,711 6,617 Workstations 1,039 1,081 Other 640 696 ----------- ----------- Total Personal Systems 16,284 16,706 ----------- ----------- Printing Supplies 7,285 7,661 Commercial Hardware 2,620 2,749 Consumer Hardware 1,091 1,239 ----------- ----------- Total Printing 10,996 11,649 ----------- ----------- Total Printing and Personal Systems Group 27,280 28,355 ----------- ----------- Enterprise Group Industry Standard Servers 6,525 6,007 Technology Services 3,919 4,208 Storage 1,577 1,642 Networking 1,118 1,288 Business Critical Systems 403 458 ----------- ----------- Total Enterprise Group 13,542 13,603 ----------- ----------- Enterprise Services Infrastructure Technology Outsourcing 6,003 7,098 Application and Business Services 3,807 4,199 ----------- ----------- Total Enterprise Services 9,810 11,297 ----------- ----------- Software 1,763 1,887 ----------- ----------- HP Financial Services 1,608 1,737 ----------- ----------- Corporate Investments 18 294 ----------- ----------- Total segments 54,021 57,173 ----------- ----------- Elimination of intersegment net revenue and other (1,729) (1,710) ----------- ----------- Total HP consolidated net revenue $ 52,292 $ 55,463 =========== =========== (a) Effective at the beginning of its first quarter of fiscal 2015, HP implemented an organizational change to align its segment financial reporting more closely with its current business structure. This organizational change resulted in the transfer of third party multi- vendor support arrangements from the Technology Services business unit within the Enterprise Group segment to the Infrastructure Technology Outsourcing business unit within the Enterprise Services segment. HP reflected this change to its segment information in prior reporting periods on an as-if basis, which resulted in the removal of intersegment revenue from the Technology Services business unit within the Enterprise Group segment and the related corporate intersegment revenue eliminations. This change had no impact on HP's previously reported consolidated net revenue, earnings from operations, net earnings or net earnings per share. HEWLETT-PACKARD COMPANY AND SUBSIDIARIES SEGMENT OPERATING MARGIN SUMMARY DATA (Unaudited) Three months Change in Operating ended Margin (pts) ---------- ---------------------- April 30, 2015 Q/Q Y/Y ---------- ---------- ---------- Segment operating margin:(a) Personal Systems 3.0% (0.7 pts) (0.5 pts) Printing 18.3% (0.9 pts) (1.2 pts) Total Printing & Personal Systems Group 9.3% (0.5 pts) (0.9 pts) Enterprise Group 14.5% (1.1 pts) 0.1 pts Enterprise Services 4.0% 1.0 pts 1.4 pts Software 17.9% (0.1 pts) (1.3 pts) HP Financial Services 10.6% (0.6 pts) (0.8 pts) Corporate Investments(b) NM NM NM Total segments 9.4% (0.5 pts) (0.3 pts) (a) Effective at the beginning of its first quarter of fiscal 2015, HP implemented an organizational change to align its segment financial reporting more closely with its current business structure. This organizational change resulted in the transfer of third party multi- vendor support arrangements from the Technology Services business unit within the Enterprise Group segment to the Infrastructure Technology Outsourcing business unit within the Enterprise Services segment. HP reflected this change to its segment information in prior reporting periods on an as-if basis, which resulted in the removal of intersegment revenue from the Technology Services business unit within the Enterprise Group segment and the related corporate intersegment revenue eliminations, and the transfer of operating profit from the Technology Services business unit within the Enterprise Group segment to the Infrastructure Technology Outsourcing business unit within the Enterprise Services segment. This change had no impact on HP's previously reported consolidated net revenue, earnings from operations, net earnings or net earnings per share. (b) "NM" represents not meaningful. HEWLETT-PACKARD COMPANY AND SUBSIDIARIES CALCULATION OF DILUTED NET EARNINGS PER SHARE (Unaudited) (In millions, except per share amounts) Three months ended ----------------------------------- April 30, January 31, April 30, 2015 2015 2014 ----------- ----------- ----------- Numerator: GAAP net earnings $ 1,011 $ 1,366 $ 1,273 =========== =========== =========== Non-GAAP net earnings $ 1,596 $ 1,705 $ 1,691 =========== =========== =========== Denominator: Weighted-average shares outstanding during the reporting period 1,814 1,833 1,890 Dilutive effect of employee stock plans(a) 22 28 26 ----------- ----------- ----------- Weighted-average shares used to compute diluted net earnings per share 1,836 1,861 1,916 =========== =========== =========== GAAP diluted net earnings per share $ 0.55 $ 0.73 $ 0.66 =========== =========== =========== Non-GAAP diluted net earnings per share $ 0.87 $ 0.92 $ 0.88 =========== =========== =========== (a) Includes any dilutive effect of restricted stock units, restricted stock, stock options and performance-based restricted stock units.
HP Reports Fiscal 2015 Second Quarter Results
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