HP Inc. Reports Fiscal 2023 First Quarter Results



HP INC. AND SUBSIDIARIES
SEGMENT/BUSINESS UNIT INFORMATION
(Unaudited)
(In millions)


  Three months ended  Change (%)
  January 31, 2023  October 31, 2022  January 31, 2022  Q/Q  Y/Y
Net revenue:         
Commercial PS$6,429  $7,026  $7,857  (8)% (18)%
Consumer PS 2,786   3,241   4,339  (14)% (36)%
Personal Systems(a) 9,215   10,267   12,196  (10)% (24)%
Supplies 2,857       2,748       3,068     4 %   (7)%
Commercial Printing   1,056       1,108       1,039     (5)%   2 %
Consumer Printing   699       677       724     3 %   (3)%
Printing   4,612       4,533       4,831     2 %   (5)%
Corporate Investments (c)   1       1       1     NM   NM
Total segment net revenue   13,828       14,801       17,028     (7)%   (19)%
Other (c)                   NM   NM
    Total net revenue $ 13,828     $ 14,801     $ 17,028     (7)%   (19)%
                   
Earnings before taxes: (b)                  
Personal Systems $ 497     $ 455     $ 954          
Printing   870       894       872          
Corporate Investments   (33 )     (46 )     (74 )        
Total segment earnings from operations   1,334       1,303       1,752          
Corporate and unallocated cost and other   (92 )     (87 )     (120 )        
Stock-based compensation expense   (167 )     (70 )     (133 )        
Restructuring and other charges   (141 )     (70 )     (68 )        
Acquisition and divestiture charges   (84 )     (235 )     (20 )        
Amortization of intangible assets   (85 )     (74 )     (52 )        
Interest and other, net   (181 )     (94 )     (32 )        
Total earnings before taxes $ 584     $ 673     $ 1,327          

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