---> Sina Technology News, February 23rd, early morning Beijing time - HP (Weibo) today released its financial report for the first quarter of fiscal year 2012. The report shows that HP's revenue in the first quarter was $30 billion, a 7% decrease compared to $32.3 billion in the same period last year; net profit was $1.468 billion, a 44% decrease compared to $2.605 billion in the same period last year. HP's revenue for the first quarter did not meet Wall Street analysts' expectations, causing its stock price to fall by more than 1% after market hours.
In this quarter ended January 31st, HP's net profit was $1.468 billion, a 44% decrease compared to $2.605 billion in the same period last year; HP's earnings per share (EPS) were $0.73, a 38% decrease compared to $1.17 per share in the same period last year. Excluding one-time items, HP's net profit for the first quarter was $1.8 billion, a 40% decrease compared to $3 billion in the same period last year; EPS was $0.92, a 32% decrease compared to $1.36 in the same period last year, but still exceeded analysts' previous expectations. A survey by research company FactSet Research showed that analysts on average expected HP's EPS for the first quarter to be $1.29.
HP's net revenue for the first quarter was $30 billion, an 8% decrease compared to $32.3 billion in the same period last year; excluding the impact of exchange rate fluctuations, HP's net revenue for the first quarter decreased by 8% year-over-year, which did not meet analysts' expectations. According to FactSet Research, analysts on average expected HP's net revenue for the first quarter to be $30.7 billion. HP's operating profit for the first quarter was $2.042 billion, compared to $3.394 billion in the same period last year.
By region, HP's revenue from the Americas in the first quarter was $13.2 billion, down 9% year-over-year; revenue from Europe, the Middle East, and Africa was $11.7 billion, down 4% year-over-year; revenue from Asia-Pacific business was $5.2 billion, down 10% year-over-year. Excluding the impact of exchange rate fluctuations, HP's revenue from the Americas decreased by 8% year-over-year, revenue from Europe, the Middle East, and Africa decreased by 5% year-over-year, and revenue from Asia-Pacific business decreased by 12% year-over-year. Revenue from markets outside the U.S. accounted for 66% of total revenue in the first quarter; revenue from BRIC countries (Brazil, Russia, India, and China) was $2.1 billion, down 13% year-over-year, accounting for 10% of total revenue.
By business segment, HP's Personal Systems Group revenue in the first quarter was $8.873 billion, down 15% year-over-year, with an operating margin of 5.2%; HP Imaging and Printing Group revenue in the first quarter was $6.258 billion, down 7% year-over-year, with an operating margin of 12.2%; HP Enterprise Servers, Storage Networking department revenue in the first quarter was $5.018 billion, down 10% year-over-year, with an operating margin of 11.2%; HP Services department revenue in the first quarter was $8.626 billion, up 1% year-over-year, with an operating margin of 10.5%; HP Software department revenue in the first quarter was $946 million, up 30% year-over-year, with an operating margin of 17.1%; HP Financial Services department revenue in the first quarter was $950 million, up 15% year-over-year, with an operating margin of 9.6%.
HP expects, according to U.S. Generally Accepted Accounting Principles (GAAP), second-quarter fiscal year 2012 EPS to be between $0.68 and $0.71; non-GAAP, excluding approximately $0.20 per share of after-tax amortization of intangible assets, restructuring charges, and acquisition-related expenses, second-quarter EPS is expected to be between $0.88 and $0.91.
HP also expects, according to GAAP, fiscal year 2012 EPS to be approximately $3.20, consistent with prior forecasts; non-GAAP, excluding approximately $0.80 per share of after-tax amortization of intangible assets, restructuring charges, and acquisition-related expenses, fiscal year 2012 EPS is at least $4.00, also consistent with prior forecasts.
On the day, HP's stock price fell $0.41 in regular trading on the New York Stock Exchange (Weibo), closing at $28.94, a decline of 1.40%. In subsequent post-market trading until 16:21 Eastern Time (5:21 AM Beijing time on the 23rd), HP's stock price fell another $0.41 to $28.53, a decline of 1.42%. Over the past 52 weeks, HP's highest price was $43.86, and the lowest price was $19.92. (Tang Feng)
[Additional Information Links]
[Yunnan] Kunming Selected as Pilot City for Low-Carbon Transportation System: http://blog.sina.com.cn/s/blog_a23aff200100wowp.html
[Hebei] Rural Road Passenger Transport Fare to Be Set by Government: http://cyworld.ifensi.com/ps2/diary/diary_view.php?mh_id=2011966208&diary_date=20120222&postid=413877