HP Reports Small Revenue Gain, Initiates Company Transformation

Earnings highlights

For the quarter, net revenue of $31.2 billion was up 1 percent from the prior-year period as reported and down 2 percent when adjusted for the effects of currency.

GAAP diluted earnings per share (EPS) was $0.93, up 24 percent from $0.75 in the prior-year period. Non-GAAP diluted EPS was $1.10, up 2 percent from $1.08 in the prior-year period. Non-GAAP financial information excludes after-tax costs of approximately $0.17 per share and $0.33 per share in the third quarter of fiscal 2011 and 2010, respectively, related primarily to the amortization of purchased intangibles, restructuring charges and acquisition-related charges. Information about HP’s use of non-GAAP financial information is provided under “Use of non-GAAP financial information” below.