HP Inc. reports earnings inline with expectations. Reported EPS is $0.93 EPS, expectations were $0.93.
Sales of consumer PCs fell 4% in the quarter, while commercial sales improved 5%. Operating margins in the PC division fell sharply year over year.
Worldwide shipments of traditional PCs in the calendar year third quarter hit 68.8 million, down 2.4% year over year, according to data from IDC.

Fiscal 2024 GAAP diluted net EPS was $2.81, down from $3.26 in the prior-year and above the previously provided outlook of $2.62 to $2.72. Fiscal 2024 non-GAAP diluted net EPS was $3.38, up from $3.28 in the prior-year period and within the previously provided outlook of $3.35 to $3.45. Fiscal 2024 non-GAAP net earnings and non-GAAP diluted net EPS exclude after-tax adjustments of $564 million, or $0.57 per diluted share, related to restructuring and other charges, acquisition and divestiture charges, amortization of intangible assets, debt extinguishment costs, non-operating retirement-related credits, tax adjustments, and the related tax impact on these items.

Fourth quarter net revenue was $14.1 billion, up 1.7% (up 2.3% in constant currency) from the prior-year period.
Fourth quarter GAAP diluted net EPS was $0.93, down from $0.97 in the prior-year period and above the previously provided outlook of $0.74 to $0.84. Fourth quarter non-GAAP diluted net EPS was $0.93, up from $0.90 in the prior-year period and within the previously provided outlook of $0.89 to $0.99. Fourth quarter non-GAAP net earnings and non-GAAP diluted net EPS excludes after-tax adjustments of $6 million, or nil per diluted share, related to restructuring and other charges, acquisition and divestiture charges, amortization of intangible assets, debt extinguishment costs, non-operating retirement-related credits, tax adjustments, and the related tax impact on these items.

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