HP Inc. said its normalized net income for the fiscal second quarter ended April 30 came to 34 cents per share, compared with the S&P Capital IQ consensus estimate of 39 cents per share.
In the prior-year period, the per-share result came in at a profit of 34 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $573.1 million, a decline from $585.0 million in the year-earlier period.
The normalized profit margin dropped to 4.6% from 5.0% in the year-earlier period.
Total revenue increased 6.9% year over year to $12.38 billion from $11.59 billion, and total operating expenses climbed 7.1% on an annual basis to $11.40 billion from $10.65 billion.
Reported net income declined 14.3% from the prior-year period to $564.0 million, or 33 cents per share, from $657.8 million, or 38 cents per share.
