HP Inc(NYSE: HPQ) reported a decent third quarter of 2017 results with net revenue rising 10% yoy to $13.1 billion, while rose 11% on a constant currency from the prior-year period. GAAP diluted net earnings per share fell to $0.41, as compared to $0.49 in the prior corresponding period, but slightly better than their guidance range of $0.36 to $0.40. Non-GAAP diluted net EPS fell to $0.43, as compared to $0.48 in pcp, also as expected. But the stock corrected over 1.3% in the after-hours session on August 23rd, 2017.
As per the segment performance, Personal Systems net revenue rose 12% yoy while operating margin reached 3.7%. Commercial and Consumer net revenue rose 11% and 14% respectively. Overall units enhanced 7% with Notebooks units rising 12% during the period. The group’s Desktops units continued to face pressure falling 3%. Printing net revenue rose 6% yoy while operating margin reached 17.3%. Overall hardware units rose 1% while Commercial hardware units are flat. Consumer hardware units slightly rose by 1% while Supplies net revenue enhanced 10% on a yoy basis.
For the third quarter of 2017, the group’s cash from operating activities in the third quarter reached $1.8 billion. They paid a dividend of $0.1327 per share during the period while used a cash of $0.2 billion. The group also used $0.3 billion of cash during the quarter to buy over 16.2 million shares of common stock in the open market. HP has $8.0 billion of cash, by the end of the quarter.
The group expects their GAAP diluted net EPS from continuing operations to be in the range of $0.37 to $0.41 and non-GAAP diluted net EPS to be in the range of $0.42 to $0.45 for fourth quarter of 2017. The group enhanced the midpoint of GAAP diluted net EPS from continuing operations to be in the range of $1.46 to $1.50 for fiscal year of 2017. HPQ generated over 27.1% in this year to date (as of August 23rd, 2017; Source: Google finance).