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HP(HPQ) - 2025 Q2 - Earnings Call Presentation
2025-05-28 20:49
Financial Performance - HP's net revenue was $1322 billion, up 3% year-over-year and 5% in constant currency[15] - Non-GAAP diluted net earnings per share were $071, below the outlook of $075 to $085[15] - GAAP diluted net earnings per share were $042, below the outlook of $062 to $072[15] - Free cash flow was $(95) million[15] - HP returned $04 billion to shareholders through dividends and share repurchases[15] Segment Performance - Printing net revenue was $4181 billion, down 43% year-over-year (down 26% in constant currency), with an operating profit of $814 million (195% OP margin)[21] - Personal Systems net revenue was $9024 billion, up 71% year-over-year (up 81% in constant currency), with an operating profit of $409 million (45% OP margin)[21] - Americas accounted for 44% of net revenue, with 36% from the US[18] - Non-US net revenue accounted for 64% of total net revenue[19] Personal Systems Details - Personal Systems revenue increased 7% year-over-year, driven by higher commercial volume and increased ASPs[30] - Commercial Personal Systems revenue grew 9%, reflecting refresh activity related to Windows 11[34] - Total Personal Systems units were up 6% year-over-year, with commercial units up 11% and consumer units down 2%[35] Printing Details - Printing revenue decreased 4% year-over-year (down 3% in constant currency)[36] - Printing supplies revenue was down 5% year-over-year (down 3% in constant currency)[43] - Total hardware units were up 1% year-over-year[43] Outlook - HP revised its FY25 GAAP diluted net EPS guidance to $232-$262 and non-GAAP diluted net EPS guidance to $300-$330[62] - HP revised its FY25 free cash flow guidance to $26-$30 billion[62]