HP Inc. Reports Fiscal 2020 Third Quarter Results


HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS
(Unaudited)
(In millions, except per share amounts)
  Nine months ended
  July 31, 2020  July 31, 2019
Net revenue$41,381   $43,349 
Costs and expenses:   
Cost of revenue33,623   35,103 
Research and development1,097   1,110 
Selling, general and administrative3,662   3,963 
Restructuring and other charges431   141 
Acquisition-related charges14   12 
Amortization of intangible assets84   87 
Total costs and expenses38,911   40,416 
    
Earnings from operations2,470   2,933 
Interest and other, net(15)  (902)
Earnings before taxes2,455   2,031 
(Provision for) benefit from taxes(279)   733  
Net earnings $ 2,176       $ 2,764  
       
Net earnings per share:      
Basic $ 1.52       $ 1.81  
Diluted $ 1.51       $ 1.80  
       
Cash dividends declared per share $ 0.70       $ 0.64  
       
Weighted-average shares used to compute net earnings per share:      
Basic 1,435       1,528  
Diluted 1,441       1,537  

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