What HP Has on Deck for Fiscal 2Q17

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Part 5
What HP Has on Deck for Fiscal 2Q17 PART 5 OF 6

How HP Views Fiscal 2Q17

HP’s non-GAAP EPS in fiscal 2Q17

HP Inc. (HPQ) expects its fiscal 2Q17 GAAP (generally accepted accounting principles) EPS (earnings per share) from continuing operations to be between $0.32 and $0.35 and its non-GAAP EPS to be between $0.37 and $0.40. The company expects its non-GAAP EPS to be between $1.55 and $1.65.

For fiscal 2Q17, analysts expect HP to post revenue of ~$11.9 billion, with EPS of $0.39. Analysts expect HP’s revenue to rise 2.5% YoY (year-over-year) in fiscal 2Q17 to $11.88 billion and 1.2% YoY in fiscal 2017 to ~$48.8 billion.

How HP Views Fiscal 2Q17

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Is the PC market showing signs of recovery?

HP’s core businesses include the PC (personal computers) and Printing segments. The PC segment is a mature market that has seen declining sales since calendar 2014. However, sales in this segment increased 0.6% YoY in calendar 1Q17, after a 5.7% rise in shipments for calendar 2016. While global shipments rose 0.6% in the quarter ended March 2017, HP outpaced industry growth easily, with shipments rising ~13% YoY.

HP has now reclaimed the top spot from Lenovo (LNVGY), which had been the market leader since 2013.

HP has identified three subsegments that could drive sales over the next few years. It plans to penetrate the A3 copier space, where it is currently a small player. HP is also optimistic about its graphics business growth, where it currently leads the market. Its third pillar of growth is the 3D printing space.

HP values the A3 market at $55 billion. It currently accounts for 4% of the overall market and aims to gain at least six percentage points over the next few years, or 10% of the total market, with revenue of $10 billion.


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