By Davit Kirakosyan

HP Inc. (NYSE 🙂 reported its earnings, which was $1.08 higher than the consensus estimate. Year-over year, revenue increased 3.9% to $16.5billion, as compared with the consensus estimate $16.17billion.

Personal Systems’ net revenue increased 9% to $11.5 Billion with a 6.9% operating profit. Printing revenue fell 7% to $5.0 Billion with a 19.3% operating Marge.

“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 increased its EPS for 2022 to an average range of $4.24-4.38, as opposed to the $4.18-4.438 guidance and consensus estimate at $4.25.

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