HP quarterly revenues fall 7%

Nieuws Algemeen Wereld 22 MAY 2015
HP quarterly revenues fall 7%
HP reported revenues for its fiscal second quarter to April down 7 percent year-on-year to USD 25.5 billion. Excluding currency effects, revenue was down just 2 percent, hurt by a slowdown in the business PC and enterprise services market. Adjusted EPS fell 1 percent to USD 0.87, in line with the company's outlook of 84-88 cents, and reported EPS was down 17 percent to USD 0.55, slightly below the guidance of 55-61 cents a share. Operating cash flow halved compared to the year-earlier period to USD 1.5 bilion. 

Profits were hurt by USD 585 million or 32 cents a share in one-time charges for restructuring and the planned separation of the PC and printer business into a new company, which HP said remains on track. CEO Meg Whitman said that HP faced some "tough challenges" but was executing well on its turnaround plans. The company also named Cathie Lesjak as CFO of the spin-off company, while Tim Stonesifer will become CFO of Hewlett Packard Enterprise and Chris Hsu COO at Hewlett Packard Enterprise. 

For fiscal Q3, HP forecast adjusted EPS of USD 0.83-0.87 and reported EPS of USD 0.50-0.54. The company maintained its full-year outlook, which was reduced already earlier this year due to the strength in the US dollar.

Categories:

Algemeen

Companies:

HP

Regions:

Wereld

Tags:

Enterprise equipment, Financial figures, Consumer devices, Network equipment

Related Articles

WERELD 4 MAR 2016

HPE revenues down 3% in Q1 on forex effects

Hewlett-Packard Enterprise (HPE) reported revenues of USD 12.7 billion in its fiscal first quarter to 31 January, the company's first full quarter results since HP separated into two entities. The result was 4 percent up on the Q1 2015 result of USD 13.1 billion on a constant currency basis and 3 percent down on a reported basis. Non-GAAP diluted net earnings per share came in at USD 0.41, at the top end of the previously provided outlook of USD 0.37 to USD 0.41 per share, with HPE returning USD 1.3 billion

WERELD 2 OCT 2015

HP board of directors approve separation

HP's board of directors have approved the previously announced separation of the company into two independent, industry-leading companies: Hewlett Packard Enterprise and HP Inc. The separation is expected to completed on 1 November. HP said Hewlett Packard Enterprise will provide systems needed by enterprises to optimise their traditional IT while helping to build a secure, cloud-enabled, mobile-ready future. Specifically, the company will include HP's best-in-class portfolio across its Enterprise Group,

WERELD 16 SEP 2015

HP to cut up to 30,000 more jobs

HP announced plans to cut another 25,000 to 30,000 jobs, as part of its plans to split into two companies. At an analysts meeting on the future of HP Enterprise, the company said it targets USD 2.7 billion in annual cost reductions following the demerger, in order to reach its long-term target for an operating margin of 7-9 percent. The restructuring will result in one-time costs totaling USD 2.7 billion, to be taken from fiscal Q4 over the next three years. HP forecast annual growth in organic revenues and

WERELD 21 AUG 2015

HP bottom line falls short of expectations

HP reported underlying earnings better than expected in its fiscal third quarter to July. Adjusted earnings fell to USD 0.88 per share from USD 0.89 a year ago, less than the company's outlook for USD 0.83-0.87. Net revenue declined 8 percent year-on-year to USD 25.3 billion. Excluding currency effects, revenue was down 2 percent. Reported earnings dropped to USD 0.47 per share from USD 0.52 a year ago, missing HP's outlook of 50-54 cents. The reported result includes after-tax costs of USD 750 million and

CHINA 21 MAY 2015

HP agrees JV with Tsinghua for China server business

HP announced an agreement to spin off its enterprise business in China in a joint venture with Tsinghua University. Under the definitive agreement, Tsinghua Holdings subsidiary, Unisplendour Corporation, will purchase a 51 percent stake in a new business called H3C, comprising H3C Technologies and HP's China-based server, storage and technology services businesses, for approximately USD 2.3 billion, valuing the total business at USD 4.5 billion (net of cash and debt). With around 8,000 employees and USD 3.1

VERENIGD KONINKRIJK 1 APR 2015

HP sues Autonomy founder, CFO for USD 5.1 bllion

Hewlett-Packard (HP) is suing the founder of UK software group Autonomy, Mike Lynch, and CFO Shushovan Hussain in a UK court for GBP 5.1 billion of damages over allegations of fraud before HP bought Autonomy for USD 11.1 billion in 2011, the Financial Times reports. In November 2012 HP announced a USD 8.8 billion writedown of its acquisition, USD 5.5 billion of which was related to "accounting misrepresentations". In response, Lynch representatives said he plans to countersue for over GBP 100 million for ma

WERELD 2 MAR 2015

HP to acquire Aruba Networks for USD 3 billion

HP has confirmed an agreement to acquire Wi-Fi equipment specialist Aruba Networks for USD 3.0 billion. Net of Aruba's cash and debt, the price totals USD 2.7 billion. Aruba and its 1,800 employees will join HP's Enterprise Group. Aruba's CEO Dominic Orr will lead the new unit focused on enterprise campus networking equipment, and HP will continue to use the Aruba brand. Aruba had revenues of USD 729 million in fiscal 2014 and has reported compound annual revenue growth of 30 percent over the last five year

WERELD 25 FEB 2015

HP lowers outlook on stronger dollar

HP reported revenues for its fiscal first quarter to January of USD 26.8 billion, down 5 percent from the prior-year period and down 2 percent on a constant currency basis. Adjusted EPS was up 2 percent year-on-year to USD 0.92, in line with the company's outlook of 89-93 cents a share. Reported earnings fell 1 percent to USD 0.73, also in line with the outlook. HP's operating margin was stable year-on-year at 7.1 percent. Due to the stronger dollar, HP lowered its outlook for the full year to October 2015

WERELD 26 NOV 2014

HP Q4 revenues fall 2%, EPS down 4%

HP reported revenues for its fiscal fourth quarter to October down 2 percent year-on-year to USD 28.4 billion. On a constant currency basis, revenues fell 3 percent. Adjusted net profit rose 5 percent from a year ago to USD 1.06 per share, in line with HP's outlook. Reported EPS was down 4 percent to USD 0.70, also in line with guidance. The company generated USD 2.7 billion in cash flow from operations in the quarter and returned USD 1.1 billion to shareholders in the form of share repurchases and dividend

Just In

19 DEC 16:42

SLT-Mobitel launches 5G network in Sri Lanka

19 DEC 16:19

Dialog Axiata launches 5G network, connects 1.5 million subscribers

19 DEC 15:56

UK govt to ban AI-enabled nudification apps to protect women, girls

19 DEC 15:42

3 UK launches last-minute Christmas sale

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.