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HP Announces Q4 Earnings
HP's earnings report
The press release announcing HP's Q4 earnings I believe set a record for the number of sub-titles with six. Guess they were pretty excited about the news.
In brief, they had some nice net revenue numbers: $33.3 billion, up 8% from the prior-year period. They delivered "growth, expanding margins and increasing earnings per share double digits."
As for the full fiscal year, net revenue was $126.0 billion, up 10% compared with the prior-year or up 8% when adjusted for the effects of currency. GAAP operating profit was $11.5 billion, and GAAP diluted EPS was $3.69, up from $3.14 in the prior year. Non-GAAP operating profit was $14.4 billion, and non-GAAP diluted EPS was $4.58, up from $3.85 in the prior-year. Non-GAAP financial information excludes $2.1 billion of adjustments on an after-tax basis, or $0.89 per diluted share, related to the amortization of purchased intangible assets, restructuring charges and acquisition-related charges.
My colleague, Derek at PreCentral noted this about Palm's contribution:
"Revenue in each of HPs major divisions was up, with the Palm-containing Personal Systems Group posting a 4% revenue increase. Palms contribution to the Personal System Groups $10.3 billion in revenue was negligible: Palm falls under the 2% other slice in the divisions revenue pie (notebooks accounted for 55%, desktops were 38%, and workstations held down the remaining 5%)."
HP's numbers were well received. On Tuesday, shares rose 2.2% to close at $44.1.
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