HP Inc. Reports Fiscal 2017 Full-Year and Fourth Quarter Results

As in prior periods, the financial information set forth in this release, including any tax-related items, reflects estimates based on information available at this time. While HP believes these estimates to be reasonable, these amounts could differ materially from reported amounts in HP’s Annual Report on Form 10-K for the fiscal year ended October 31, 2017 and HP’s other filings with the Securities and Exchange Commission. HP assumes no obligation and does not intend to update these forward-looking statements. HP’s Investor Relations website at www.hp.com/investor/home contains a significant amount of information about HP, including financial and other information for investors. HP encourages investors to visit its website from time to time, as information is updated and new information is posted.


 
HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS
(Unaudited)
(In millions, except per share amounts)
  
  Three months ended
  October 31,
2017
  July 31,
2017
  October 31,
2016
Net revenue$13,927  $13,060  $12,512 
Costs and expenses:     
Cost of revenue11,407  10,633  10,221 
Research and development291  289  318 
Selling, general and administrative1,176  1,096  1,075 
Restructuring and other charges113  46  49 
Acquisition-related charges49  40  7 
Defined benefit plan settlement charges1  1  179 
Total costs and expenses13,037  12,105  11,849 
      
Earnings from continuing operations890  955  663 
Interest and other, net(42) (56) 347 
Earnings from continuing operations before taxes848  899  1,010 
Provision for taxes(188) (203) (497)
Net earnings from continuing operations660  696  513 
Net loss from discontinued operations    (21)
Net earnings$660  $696  $492 
      
Net earnings per share:     
Basic     
Continuing operations$0.40  $0.41  $0.30 
Discontinued operations    (0.01)
Total basic net earnings per share $ 0.40     $ 0.41     $ 0.29  
Diluted          
Continuing operations $ 0.39     $ 0.41     $ 0.30  
Discontinued operations         (0.02 )
Total diluted net earnings per share $ 0.39     $ 0.41     $ 0.28  
           
Cash dividends declared per share $     $ 0.26     $  
           
Weighted-average shares used to compute net earnings per share:          
Basic 1,670     1,681     1,712  
Diluted 1,687     1,695     1,729  
                 

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