HP announces third quarter 2013 results

“We once again achieved the financial performance we said we would, delivering $0.86 in non-GAAP diluted earnings per share, within our previously provided outlook of $0.84 to $0.87,” said Meg Whitman, HP President and Chief Executive Officer. “I remain confident that we are making progress in our turnaround. We are already seeing significant improvement in our operations, we are successfully rebuilding our balance sheet, our cost structure is more closely aligned with our revenue and we have reignited innovation at HP, with a focus on the customer.”

During the third quarter, revenue of HP’s printing business declined 4 percent year over year to US$ 5.8 billion. Total hardware units were up 5% with Commercial hardware units up 12% and Consumer hardware units up 2%. Supplies revenue was down 4%. The business’s earnings before taxes reached US$ 908 million, down 5.2 percent from the same period last year.

For the full year fiscal 2013, HP expects GAAP diluted earnings per share to be in the range of US$ 2.67 to 2.71, in line with the company’s previously communicated outlook.