HP Inc. Reports Fiscal 2018 Second Quarter Results

(a) Effective at the beginning of its first quarter of fiscal year 2018, HP implemented an organizational change to align its segment and business unit financial reporting more closely with its current business structure. The organizational change resulted in the transfer of long life consumables from Commercial to Supplies within the Printing segment. Certain revenues related to service arrangements, which are being eliminated for the purposes of reporting HP’s consolidated net revenue, have now been reclassified from Other to segments. HP has reflected this change to its segment and business unit information in prior reporting periods on an as-if basis. The reporting change had no impact to previously reported consolidated net revenue, earnings from operations, net earnings or net earnings per share.
 

(b) "NM" represents not meaningful.

 
HP INC. AND SUBSIDIARIES
CALCULATION OF DILUTED NET EARNINGS PER SHARE
(Unaudited)
(In millions, except per share amounts)
 
  Three months ended
  April 30,
2018
  January 31,
2018
  April 30,
2017
Numerator:     
GAAP net earnings$1,058  $1,938  $559 
Non-GAAP net earnings$798  $803  $685 
      
Denominator:     
Weighted-average shares used to compute basic net earnings per share1,630  1,650  1,688 
Dilutive effect of employee stock plans(a)16  19  21 
Weighted-average shares used to compute diluted net earnings per share1,646  1,669  1,709 
      
GAAP diluted net earnings per share$0.64  $1.16  $0.33 
Non-GAAP diluted net earnings per share$0.48  $0.48  $0.40 
            

(a) Includes any dilutive effect of restricted stock units, stock options and performance-based awards.  

 
HP INC. AND SUBSIDIARIES
CALCULATION OF DILUTED NET EARNINGS PER SHARE
(Unaudited)
(In millions, except per share amounts)
 
  Six months ended April 30,
  2018  2017
Numerator:   
GAAP net earnings$2,996  $1,170 
Non-GAAP net earnings$1,601  $1,331 
    
Denominator:   
Weighted-average shares used to compute basic net earnings per share1,640  1,696 
Dilutive effect of employee stock plans(a)18  20 
Weighted-average shares used to compute diluted net earnings per share1,658  1,716 
    
GAAP diluted net earnings per share$1.81    $ 0.68  
Non-GAAP diluted net earnings per share $ 0.97     $ 0.78  
               

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