Hewlett-Packard Conference Call Highlights

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Hewlett-Packard
HPQ
reported its third quarter earnings on Thursday. Shares of the company are up five percent. Below are some key highlights from its conference call: • Revenue for the company was $27.6 billion, up 1%. • Our year-to-date free cash flow now stands at $7.4 billion. • As a result, our operating company net cash position is $4.9 billion. • We also returned $881 million to shareholders in the form of share repurchases and dividends. • Against that back drop, our outlook for non-GAAP diluted net earnings per share for the full year will be $3.70 to $3.74. • EMEA revenue was $10 billion, up 5% year-over-year. • Gross margin for the quarter was 24%. • Supplies revenue was $3.7 billion, down 5% over the prior year and made up 65.5% of Printing revenue. Global: • By region, Americas revenue was $12.3 billion, down 1% year-over-year, or flat in constant currency. • The U.S. was approximately flat on the back of double digit growth in Personal Systems. • Brazil was up moderately, while other countries in the region declined. • EMEA driven by some recovery in mature Western economies, partially offset, primarily, by significant weakness in Russia. • Guidance: • In Enterprise Services, given the incremental weakness we saw in Q3 from EMEA, we are updating our full year revenue outlook. • We now expect full year revenue to decline 6% to 7% over the prior year. • From a macroeconomic perspective, we expect geopolitical uncertainty to continue, impacting specific territories such as Russia, as well as increased competitive pressures likely in China. • From a macroeconomic perspective, we expect geopolitical uncertainty to continue, impacting specific territories such as Russia, as well as increased competitive pressures likely in China. • From a GAAP perspective, we expect full year GAAP diluted net earnings per share to be in the range of $2.75 to $2.79.
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Posted In: EarningsNewsGuidance
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