Earnings came in at 58 cents per share, beating estimates by 3 cents. Sales came in at $14.6 billion, missing estimates by $20 million.
"We continued to deliver strong free cash flow and non-GAAP EPS growth, while raising our non-GAAP EPS outlook," said Dion Weisler, HP's President and CEO. "We are delivering industry leading innovation across our portfolio, and I am confident we are taking the right actions to position HP for the future."
The company also announced Weisler will step down as CEO, while remaining a director on the company’s board. Enrique Lores will be appointed CEO effective Nov. 1, 2019.
- Net revenue up 0.1% year-over-year
- Free cash flow of $2.2 billion
- $800 million returned to shareholders through share repurchases
HP Inc shares traded lower by 4.9% to $18 in Thursday's after-hours session.
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