HP Q2 revenue up 27.3% to $15.9B YoY, beats estimates

Thursday, 27. May 2021 22:10

Hewlett-Packard revealed on Thursday its financial results for the second quarter of 2021 marking a 27.3% jump in revenue to $15.9 billion, compared to the same period of last year. GAAP earnings per share stood at $0.98 per share, up 85% from the $0.53 recorded in the second quarter of 2020.

GAAP net earnings rose by 61% from the comparable period of the previous year to a total of $1.2 billion. Additionally, net cash provided by operating activities reached $1.4 billion, while the free cash flow amounted to $1.3 billion.

"We delivered another strong quarter, with double-digit top and bottom line growth. HP technology is increasingly at the heart of hybrid work and we are benefitting from exceptional demand for our products and services. Our performance and our positive outlook for the full year reflect the relevance of our innovation, the resilience of our business model, and the operational excellence of our teams," said Enrique Lores, HP President and CEO.

Following the report, HP shares fell by 4.67% in the after-hours trading.

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Breaking the News / LH