HP Q4 2013 Results Highlights | Q4 2013 HP Results | Hewlett Packard Announces Record Results For Fourth Quarter 2013 | Hewlett Packard Q4 2013 Results

HP Q4 2013 Results Highlights | Q4 2013 HP Results | Hewlett Packard Announces Record Results For Fourth Quarter 2013 | Hewlett Packard Q4 2013 Results

Hewlett Packard will conduct a live audio webcast of its conference call to review its financial results for the fourth fiscal quarter ended Oct. 31, 2013. Q4 2013 Hewlett-Packard Earnings Conference Call is scheduled for Tuesday, Nov. 26, at 5 p.m. ET / 2 p.m. PT, and will be available at www.hp.com/investor/2013Q4earnings

Hewlett-Packard delivered quarterly earnings and revenue that surpassed analysts' expectations on Tuesday. HP reported revenue of $29.1 billion for the three months that ended Oct. 31, down 3 percent (and just 1 percent after currency adjustments) from $30 billion a year ago. Non-GAAP (generally accepted accounting practices) earnings per share were $1.01, down 13 percent from a year ago. In after-hours trading, HP stock was up 7 percent to $27 a share. Before the report, HP shares closed down 23 cents at $25.09 a share.

Overall, results in Q4 were driven by strong performance in Printing, revenue growth in the Enterprise Group, improved revenue performance in Personal Systems, plus continued execution in Software and Enterprise Services. 

Printing business delivered an excellent quarter, with continued strong profitability.  We outperformed the market for the second quarter in a row, gaining 4 points of total unit market share over the prior year.  Revenue for the quarter was down 1 percent, but we actually saw growth of 1 percent in constant currency. So a shout out to the printing team – you’ve done a great job this year! But we can’t forget that we have competitors nipping at our heels every step of the way.  Printing revenue was down 1 percent year over year with a 17.7 percent operating margin. Total hardware units were up 6 percent with commercial hardware units up 9 percent and Consumer hardware units up 4 percent. Printer supplies revenue, HP’s cash cow, was down 4 percent.

Enterprise Group revenue was up 2 percent year over year with a 14.5 percent operating margin. Networking revenue was up 3 percent, Industry Standard Servers revenue was up 10 percent, Business Critical Systems revenue was down 17 percent, Storage revenue was up 1 percent, and Technology Services revenue was down 6 percent. Enterprise Services revenue declined 9 percent year over year with a 4.4 percent operating margin. Application and Business Services revenue was down 10 percent, and Infrastructure Technology Outsourcing revenue declined 9 percent.

In Software, disciplined cost management resulted in operating profit of 30.8 percent for the quarter.  Revenue decreased 9 percent over the prior year, primarily due to a tough compare due to a large General Motors deal last year and a sustained effort to drive a more profitable Professional Services business. However, the Software team did grow in areas like Security, and Cloud and Automation, after normalizing for the impact of the General Motors deal. In Autonomy, we continue to make progress, and saw the second sequential quarter of license revenue growth.

After the earnings announcement, the company's shares fell nearly 1 percent in after-hours trading. For the 2014 fiscal year, the firm reported net earnings, excluding items, of $3.56 per share on $112.3 billion in net revenue, down about 7 percent from the prior year.