HP Reports First Quarter 2014 Results
- First quarter non-GAAP diluted net earnings per share of $0.90, up 10% from the prior-year period, versus the previously provided outlook of $0.82 to $0.86 per share
- First quarter GAAP diluted net earnings per share of $0.74, up 17% from the prior-year period, versus the previously provided outlook of $0.60 to $0.64 per share
- First quarter net revenue of $28.2 billion, down 1% from the prior-year period and flat on a constant currency basis
- First quarter cash flow from operations of $3.0 billion, up 17% from the prior-year period
- Returned $843 million to shareholders in the form of dividends and share repurchases in the first quarter
- Improved operating company net cash position by $1.6 billion, the eighth consecutive quarterly improvement of over $1 billion
PALO ALTO, Calif., Feb. 20, 2014 — HP today announced financial results for its fiscal 2014 first quarter ended Jan. 31, 2014.
First quarter GAAP diluted net earnings per share (EPS) was $0.74, up from $0.63 in the prior-year period and above the previously provided outlook of $0.60 to $0.64. First quarter non-GAAP diluted net EPS was $0.90, up from $0.82 in the prior-year period and above the previously provided outlook of $0.82 to $0.86. First quarter non-GAAP net earnings and non-GAAP diluted net EPS exclude after-tax costs of $317 million and $0.16 per diluted share, respectively, related to the amortization of intangible assets, restructuring charges and acquisition-related charges.
First quarter net revenue of $28.2 billion was down 1% from the prior-year period and flat on a constant currency basis.
The complete news release is available at: http://h30261.www3.hp.com/phoenix.zhtml?c=71087&p=irol-newsArticle&ID=1902009&highlight=
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