HP Inc. Reports Fiscal 2020 Second Quarter Results


 


 
HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS
(Unaudited)
(In millions, except per share amounts)
 
  Six months ended
  April 30, 2020  April 30, 2019
Net revenue$27,087  $28,746 
Costs and expenses:   
Cost of revenue21,722  23,405 
Research and development738  697 
Selling, general and administrative2,506  2,587 
Restructuring and other charges372  124 
Acquisition-related charges3  21 
Amortization of intangible assets55  58 
Total costs and expenses25,396  26,892 
    
Earnings from operations1,691  1,854 
Interest and other, net13  (71)
Earnings before taxes1,704  1,783 
Provision for taxes(262) (198)
Net earnings$1,442  $1,585 
    
Net earnings per share:   
Basic$1.00  $1.03 
Diluted$0.99     $ 1.02  
       
Cash dividends declared per share $ 0.35     $ 0.32  
       
Weighted-average shares used to compute net earnings per share:      
Basic 1,444     1,543  
Diluted 1,450     1,551  

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