By Davit Kirakosyan

HP Inc. (NYSE) reported its, with an EPS of $1.08 better than the consensus estimate. The revenue grew by 3.9% to $16.5 million year-over-year, which was higher than the consensus estimate at $16.17 billion.

Personal Systems Segment net revenue rose 9% year over year to $11.5B with a 6.9% Operating Margin, while Printing segment net revenues declined 7% year over year to $5.0B with an 19.3% Operating Margin.

“We delivered a solid quarter of revenue and non-GAAP EPS growth, while returning significant capital to shareholders,” said Enrique Lores, HP President and CEO. “Collectively, our key growth businesses grew double digits and drove $5.6 billion in revenue in the first half of the year. Our consistent performance in the face of a volatile macro environment gives us confidence in our plans to build a stronger HP.”

Company expects Q3/22 earnings to range from $1.03-1.08, which is higher than the consensus estimate at $1.02.

The company has increased its EPS range to $4.24-$4.38 for the entire 2022-year, compared with its previous guidance of $4.18 to $4.38 and its consensus estimate of 4.25.

After-hours trading on Tuesday saw HP shares rise 1%