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HP Inc. (NYSE: HPQ) 3Q19 Results: Results Beat/In Line with Consensus, Growth Driven by Desktops, Raises Annual EPS Forecast, Announces CEO Succession

Executive Summary

  • HP reported fiscal 3Q19 revenues of $14.60 billion, flat year over year, and in line with the $14.62 billion consensus estimate. Adjusted EPS was $0.58, up 11.5% year over year and beating the $0.55 consensus estimate.
  • Personal systems was the fastest-growing segment, driven by growth in PC desktops, which grew 6.8%. Revenues in the other subsegment (which includes POS systems) declined 1.9%.
  • HP raised its fiscal 2019 adjusted EPS guidance to $2.31-$2.35 (up 14%-16%) from $2.14-$2.21 previously.

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