May 22, 2013 – HP today released its financial report for the second quarter ended April 30, 2013. According to GAAP accounting standards, diluted earnings per share (EPS) for the second quarter was $0.55, down from $0.80 in the same period last year, but higher than the previous forecast of $0.38 to $0.40 per share. Non-GAAP diluted earnings per share for the second quarter were $0.87, down from $0.98 in the same period last year, but higher than the previous forecast of $0.80 to $0.82 per share. Non-GAAP income information for the second quarter does not include the $621 million in after-tax costs associated with the acquisition of intangible assets amortization, restructuring charges and acquisition costs, or $0.32 diluted earnings per share.
HP's second quarter performance statistics comparison table
Net income for the second quarter was $27.6 billion, down 10% year-on-year and 9% lower due to exchange rate effects. MegWhitman, President and CEO of Hewlett-Packard Co., said: "Our non-GAAP dilutions due to higher-than-expected corporate service group and print business performance, coupled with accelerated savings and accelerated implementation and operational improvements. The post-earnings earnings are $0.05 higher than expected."
Business group performance in the second quarter of 2013
Revenue from the personal information products business decreased by 20% year-on-year, and the operating profit margin was 3.2%. Commercial business revenue decreased by 14% year-on-year, and consumer business revenue decreased by 29% year-on-year. Total sales fell 21% year-on-year, desktop sales fell 18% year-on-year, and notebook sales fell 24% year-on-year.
Printing business revenue decreased by 1% year-on-year, and operating profit margin was 15.8%. Total hardware sales decreased by 11% year-on-year. Commercial hardware sales fell 5% year-on-year, while consumer hardware sales fell 13% year-on-year.
Enterprise group revenue decreased by 10% year-on-year, and operating profit margin was 15.9%. Network revenue increased by 1% year-on-year, industry standard server revenue decreased by 12%, key business system revenue decreased by 37%, storage revenue decreased by 13%, and technical service revenue decreased by 3%.
The income of the enterprise service group decreased by 8% year-on-year, and the operating profit margin was 2.6%. Application and corporate services revenue fell 10% year-on-year, and IT outsourcing revenue fell 6% year-on-year.
Software Group's revenue decreased by 3% year-on-year, and its operating margin was 19.1%. Support revenue increased by 12% year-on-year, while license revenue fell by 23% and service revenue fell by 5%.
HP financial services revenue fell 9% year-on-year, with net portfolio assets down 3% and financing volumes down 24%. The business achieved an operating profit margin of 11.0%.
HP's second quarter performance statistics comparison table
Net income for the second quarter was $27.6 billion, down 10% year-on-year and 9% lower due to exchange rate effects. MegWhitman, President and CEO of Hewlett-Packard Co., said: "Our non-GAAP dilutions due to higher-than-expected corporate service group and print business performance, coupled with accelerated savings and accelerated implementation and operational improvements. The post-earnings earnings are $0.05 higher than expected."
Business group performance in the second quarter of 2013
Revenue from the personal information products business decreased by 20% year-on-year, and the operating profit margin was 3.2%. Commercial business revenue decreased by 14% year-on-year, and consumer business revenue decreased by 29% year-on-year. Total sales fell 21% year-on-year, desktop sales fell 18% year-on-year, and notebook sales fell 24% year-on-year.
Printing business revenue decreased by 1% year-on-year, and operating profit margin was 15.8%. Total hardware sales decreased by 11% year-on-year. Commercial hardware sales fell 5% year-on-year, while consumer hardware sales fell 13% year-on-year.
Enterprise group revenue decreased by 10% year-on-year, and operating profit margin was 15.9%. Network revenue increased by 1% year-on-year, industry standard server revenue decreased by 12%, key business system revenue decreased by 37%, storage revenue decreased by 13%, and technical service revenue decreased by 3%.
The income of the enterprise service group decreased by 8% year-on-year, and the operating profit margin was 2.6%. Application and corporate services revenue fell 10% year-on-year, and IT outsourcing revenue fell 6% year-on-year.
Software Group's revenue decreased by 3% year-on-year, and its operating margin was 19.1%. Support revenue increased by 12% year-on-year, while license revenue fell by 23% and service revenue fell by 5%.
HP financial services revenue fell 9% year-on-year, with net portfolio assets down 3% and financing volumes down 24%. The business achieved an operating profit margin of 11.0%.
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