HP FY2019 1st quarter performance

Hewlett Packard performance in first quarter of FY 2019.

 Key Highlights (Amounts in millions)

 Q1 2019Q1 2018
Net revenues $ 14,710$ 14,517
Net earnings $ 803 $ 1,938
Research and development $344  $347
Total costs and expenses$13,784   $13,604
Personal Systems$ 9,657   $ 9,440
Printing $5,056 $5,076
  • Net revenues of HP in the 1st quarter of FY 2019 climbed to $ 14,710 millions compred to $ 14,517 millions during the same quarter of 2018.
  • Net earnings of HP declined to $ 803  millions in the first quarter of FY 2019 from $ 1,938 millions during the same quarter in 2018.
  • Research and development expenses remained nearly the same in 1st quarter of 2019 as 2018. HP spent $344 millions in FY 2019 1st quarter on R&D as compared to $347 millions during the 1st quarter of 2018.
  • Tota costs and expenses of HP were $13,784 millions in 1st quarter of 2019 compared to $13,604 millions in Q1 2018.
  • HP revenue from personal systems climbed 2% to $ 9,657 millions in the first quarter of 2019 compared to  $ 9,440 millions in Q1 2018.
  • Operating profit from personal systems was 4.2% of segment net revenues or $410 million in Q1 2019.
  • HP revenues from printing declined to  $5,056 millions in the Q1 2019 compared to  $5,076 millions in the 1st quarter of 2018.
  • Operating profit from printing was 16.2% of segment net revenues or $821 million in Q1 2019.

Distribution of Net Revenues HP FY 2019 1st quarter vs FY 2018 1st quarter.

HP Revenues from personal systems (Amounts in millions)

Personal SystemsQ1 2019Q1 2018
Notebooks $ 5,919 $ 5,595
Desktops$2,857$2,955
Workstations$562  $543
Other$319 $347
Total Personal Systems$9,657 $9,440 
  • Personal systems accounted for 65% of the total net revenues of HP in the 1st quarter of 2019. 
  • HP revenues from sales of notebooks climbed 6% to $5,919  millions in 1st quarter of 2019 compared to $ 5,595 millions in 1st quarter of 2018. Unit sales declined by 1%.
  • HP revenues from sales of desktops declined 3% to $2,857  millions in 1st quarter of 2019 from $2,955 millions in 1st quarter of 2018. Unit sales declined by 8% during the same period.
  • Total personal systems unit sales delined by 3% year on year (Q1 2019).

HP revenues from Printing (amounts in millions)

PrintingQ1 2019Q1 2018
Supplies$3,267$3,351
Commercial Hardware$1,090$1,037
Consumer Hardware$699$688
Total Printing$5,056$5,076
  • Total net revenues from printing remained nearly flat at $5,056  million in Q1 2019 compared to $5,076 million in Q1 2018.
  • Net revenues from supplies declined by around 3% in Q1 2019 reaching $3,267 million compared to $3,351 million in Q1 2018.
  • Printing net revenues from commercial hardware grew to $1,090 million in Q1 2019 from $1,037 million in Q1 2018.
  • Net revenues from consumer hardware grew to $699 millin in Q1 2019 from $688 million in Q1 2018.
  • Net revenues from the Americas in Q1 2019 was 41% of the total net revenues of HP. (3% yoy decline)
  • US accounted for around 33% of the total net revenues of HP in Q1 2019. Non US reveneus were 67% of the total net revenues. 
  • EMEA (Europe, Middle east and Africa) accounted for 36% of the total net revenues of the brand in Q1 2019 (3% yoy growth).
  • Asia Pacific accounted for 23% of the total net revenues of the brand in Q1 2019 (8% yoy growth).

Sources:-

HP Inc quarterly results FY 2019 Q1.

HP Inc Q1 2019 earnings summary.