HP Inc. (HPQ - Free Report) just released its fourth quarter fiscal 2016 financial results after the bell, posting non-GAAP diluted earnings of 36 cents per share and revenues of $12.5 billion. HPQ is a #3 (Hold) on the Zacks Rank, and is down 2.19% to $15.60 per share in after-hours trading.
Matched earnings estimates. The company reported non-GAAP diluted earnings of 36 cents per share, matching the Zacks Consensus Estimate of 36 cents per share. This number excludes 6 cents from non-recurring items.
Beat revenue estimates. The company saw revenue figures of $12.5 billion, beating our consensus estimate of $11.874 billion and increasing up 2% (or 4% in constant currency) from the prior-year period.
HP reported Personal Systems net revenue grew 4% year-over-year with a 4.3% operating margin. Printing net revenue was down 8% year-over-year with a 14% operating margin. Total hardware units increased 1% from the prior-year period, with commercial hardware units up 10% and Consumer hardware units down 3%.
Looking ahead to the first quarter of fiscal 2017, HP expects non-GAAP EPS to be in the range of 35 cents to 38 cents.
“We delivered on our full year financial commitments and executed well on our strategy to protect our core, drive growth and invest in our future all while taking cost out of the business” said Dion Weisler, President and CEO, HP Inc. “As we’ve proved quarter over quarter, we are confident in our abilities to execute and deliver, while making business decisions focused on the long-term success for the company.”
Here’s a graph that looks at HP’s price, consensus, and EPS surprise:
HP Inc. is the surviving entity following the November 2015 split of Hewlett-Packard Company into publicly traded entities - Hewlett Packard Enterprise Company and HP Inc. The company's focus will be on the PC and printing products and services. HP Inc. is headquartered in Palo Alto, California.
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