HP Gains on Q2 Earnings Beat and Raise

HP Inc. (NYSE: HPQ) reported its Q2 results, with EPS of $1.08 coming in better than the consensus estimate of $1.05. Revenue grew 3.9% year-over-year to $16.5 billion, compared to the consensus estimate of $16.17 billion.

Personal Systems segment net revenue grew 9% year-over-year to $11.5 billion with a 6.9% operating margin, and Printing segment net revenue declined 7% year-over-year to $5.0 billion with a 19.3% operating margin.

“We delivered a solid quarter of revenue and non-GAAP EPS growth, while returning significant capital to shareholders,” said Enrique Lores, HP President and CEO. “Collectively, our key growth businesses grew double digits and drove $5.6 billion in revenue in the first half of the year. Our consistent performance in the face of a volatile macro environment gives us confidence in our plans to build a stronger HP.”

The company expects Q3/22 EPS to be in the range of $1.03-$1.08, better than the consensus estimate of $1.02.

For the full 2022-year, the company raised its EPS to a range of $4.24-$4.38, compared to its prior guidance of $4.18-$4.38 and the consensus estimate of $4.25.

Shares of HP are up 1% in after-hours trading Tuesday.

By Davit Kirakosyan

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