HP Inc: EPS up 4% in Q2

(CercleFinance.com) - On Wednesday evening, HP Inc reported adjusted Q2 2023-24 EPS (non-GAAP) that is up 4% at $0.
82, within its target range of $0.76-0.86, with its adjusted operating margin improving 0.2 point to 8.8%. NB: pmt +3.6%.

The hardware manufacturer's sales fell by 0.8% to $12.8bn (-1.2% at constant exchange rates), with a slight rise in PC sales more than offset by a sharp drop in printer sales.

As the market recovers and new AI-enabled PCs are introduced, we are well positioned for profitable growth across our businesses, management said.

Posting FCF of $0.5bn in the past quarter, HP is targeting FY 2023-24 ranges of $3.30-3.60 for adjusted EPS and $3.1-3.6bn for FCF.


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