HP Inc. said its normalized net income for the fiscal first quarter ended Jan. 31 came to 31 cents per share, compared with the S&P Capital IQ consensus estimate of 37 cents per share.
EPS increased year over year from 30 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $533.8 million, compared with $533.8 million in the year-earlier period.
The normalized profit margin fell to 4.2% from 4.4% in the year-earlier period.
Total revenue increased on an annual basis to $12.68 billion from $12.25 billion, and total operating expenses increased on an annual basis to $11.75 billion from $11.30 billion.
Reported net income decreased on an annual basis to $619.6 million, or 36 cents per share, from $642.6 million, or 36 cents per share.
