HP Inc. Reports Fiscal 2019 Second Quarter Results


 HP INC. AND SUBSIDIARIES
SEGMENT INFORMATION
(Unaudited)
(In millions)
 


  Three months ended
  April 30, 2019  January 31, 2019  April 30, 2018
Net revenue:(a)     
Personal Systems$8,921  $9,657  $8,762 
Printing5,116  5,056  5,241 
Corporate Investments  1  1 
Total segments14,037  14,714  14,004 
Other(1) (4) (1)
Total net revenue$14,036  $14,710  $14,003 
      
Earnings before taxes:(a),(b)     
Personal Systems$385  $410  $329 
Printing839  821  837 
Corporate Investments(24) (24) (21)
Total segment earnings from operations1,200  1,207  1,145 
Corporate and unallocated costs and other(97) (80) (54)
Stock-based compensation expense(66) (107) (63)
Restructuring and other charges(69) (55) (57)
Acquisition-related charges(11) (10) (45)
Amortization of intangible assets(29) (29) (20)
Interest and other, net(45) (26) (823)
Earnings before taxes$883  $900  $83 
  1. Effective at the beginning of its first quarter of fiscal year 2019, HP implemented an organizational change to align its business unit financial reporting more closely with its current business structure. The organizational change resulted in the transfer of certain Samsung-branded product categories from Commercial to Consumer within the Printing segment. HP reflected this change to its business unit information in prior reporting periods on an as-if basis. The reporting change had no impact to previously reported segment net revenue, consolidated net revenue, earnings from operations, net earnings or net EPS. 

  2. Pursuant to adoption of ASU 2017-07 in the first quarter of fiscal year 2019, HP now reclassifies market-related retirement credits and all other components (excluding service cost component) of net periodic benefit cost to Interest and other, net in Consolidated Condensed Statement of Earnings. HP reflected this change in prior reporting periods on an as-if basis. 
 HP INC. AND SUBSIDIARIES
SEGMENT INFORMATION
(Unaudited)
(In millions)
 



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