HPQ HP Inc

   By Maria Armental 
 

HP Inc., the printer and personal-computer giant born from the 2015 split of Hewlett-Packard, on Thursday reported third-quarter results. Here's what you need to know:

EARNINGS: Profit rose 26%, to $880 million, or 54 cents a share. Excluding acquisition-related charges and other items, profit rose to 52 cents a share, at the high end of HP's forecast and above analysts' forecast of 51 cents a share, according to Thomson Reuters data.

REVENUE: Revenue rose 12%, to $14.59 billion, beating the consensus forecast of $14.27 billion. The personal-systems segment, which includes HP's PC business and is its largest by revenue, rose a stronger-than-expected 12%, led by commercial growth of 13% and a 10% rise in consumer sales. Printing commercial hardware, which includes last year's acquisition of Samsung Electronics Co.'s printer business, reported a 24% revenue increase and supplies an 8% increase.

COSTS: Total costs rose 12%, to $13.51 billion.

FREE CASH FLOW: HP reported free cash flow, a key profitability metric, of $1.4 billion.

OUTLOOK: The company raised its full-year profit forecast, saying it now expects to make $2.82 to $2.85 a share, or $2 to $2.03 a share on an adjusted basis. It previously forecast profit of $2.75 and $2.82 a share, or $1.97 to $2.02 a share on an adjusted basis. The company affirmed its free cash flow forecast of at least $3.7 billion.

Write to Maria Armental at maria.armental@wsj.com

(END) Dow Jones Newswires

August 23, 2018 16:22 ET (20:22 GMT)

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