On November 22nd, HP Inc. reported results for its fourth-quarter 2016, with revenue up 2 percent. Fourth-quarter earnings per share was $0.30, above the previously provided outlook of $0.22 to $0.25 per share.
On the printer side, revenues were down 8 percent, with revenues from supplies down 12 percent. However, printer hardware revenues were up 1 percent.
Fourth-Quarter Segment Results
- Personal Systems net revenue was up 4 percent year-over-year (up 5 percent in constant currency) with a 4.3 percent operating margin. Commercial revenue increased 3 percent and Consumer revenue increased 7 percent. Total units were up 5 percent with Notebooks units up 9 percent and Desktops units up 1 percent.
- Printing net revenue was down 8 percent year-over-year (down 6 percent in constant currency) with a 14.0 percent operating margin. Total hardware units were up 1 percent from the prior-year period, with Commercial hardware units up 10 percent and Consumer hardware units down 3 percent. Supplies net revenue was down 12 percent (down 10 percent in constant currency).
Fiscal Year 2016 Results
Fiscal-year year 2016 net earnings per share (EPS) was $1.53, above HP’s previously provided outlook of $1.46 to $1.49 per share. Fiscal-year 2016 net revenue totaled $48.2 billion, down 6 percent (down 2 percent in constant currency) from the prior-year period.
Fiscal-year 2016 net revenue were $48.2 billion, down 6 percent (down 2 percent in constant currency) from the prior-year period.
Fourth quarter earnings per share were $0.30, down from $0.83 in the prior-year period and above the previously provided outlook of $0.22 to $0.25.
HP Inc. President and CEO Dion Weisler commented: “We delivered on our full year financial commitments and executed well on our strategy to protect our core, drive growth and invest in our future all while taking cost out of the business. .As we’ve proved quarter over quarter, we are confident in our abilities to execute and deliver, while making business decisions focused on the long-term success for the company.”
For the fiscal 2017 first quarter, HP estimates earnings per share to be in the range of $0.33 to $0.36 share.
For its fiscal 2017 year, HP estimates earnings per share to be in the range of $1.47 to $1.57.
- HP Press Release: HP Inc. Reports Fiscal 2016 Fourth Quarter Results
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- October 2016: HP Updates on Printing Group: Instant Ink up 20 Percent, PageWide Portfolio Gains Market Share, More
- October 2016: HP Inc. to Cut 3,000 to 4,000 Jobs in the Next Three Years; Provides Fiscal Year Outlook
- September 2016: Samsung Board Approves Sale of Printer Business to HP; Will Continue to Source Printers from HP
- September 2016: HP Set to Purchase Samsung’s Printer Group for $1.05 Billion As it Prepares for Assault on Copier Market
- August 2016: Revenue Down Slightly for HP Inc.’s Third Quarter, but Net Earnings up 20 Percent
- May 2016: Slow Second Quarter for HP Inc., but Remains ‘Committed to PCs and Printing’
- February 2016: Rocky Results for HP Inc.’s First Quarter; Job Cuts ‘Accelerated’
- November 2015: Tough Fourth Quarter for HP as Split is Completed