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PERFORMANCE

How We Executed on Our Commitments

Revenue by region
Americas

43% of net revenue

▼3% y/y

▼2% CC(1)

Asia Pacific

22% of net revenue

▼5% y/y

▼3% CC(1)

Non-US net revenue was 64% of total net revenue

EMEA

35% of net revenue

▼3% y/y

▼2% CC(1)

Fiscal 2020 Operating Highlights

Personal Systems

Net revenue

$39.0

       BILLION

▲1% y/y

▲2% CC(1)

Operating profit

$2.3

       BILLION

5.9% of

net revenue


   
For the full year, Personal Systems was up year-over-year and operating margins expanded 1% adding more than $400 million to the bottom line. Overall, units increased by 5% year-over-year on the heels of strength from notebooks due to strong demand from working and learning from home.
As the PC has become essential due to work from home and distance learning we continued to lead in PC design and innovation including the new commercial HP Fury series, Zcentral workstations and new commercial HP Elitebook series. In Gaming, we also launched our latest OMEN Desktop 25L/30L series and OMEN accessories including OMEN Frequency Wireless Headset, OMEN Vector Wireless Mouse and OMEN Spacer Wireless Keyboard to address the future of gaming.

Printing

Net revenue

$17.6

       BILLION

▼12% y/y

▼11% CC(1)

Operating profit

$2.5

       BILLION

14.1% of

net revenue


   
For the full year, Printing revenue was down year-over-year with declines in both commercial and consumer printing due to COVID-19 impact.

We launched HP+, to address the consumer print market which includes a complete printing solution combining hardware, instant ink and HP Smart App.

We expanded our contractual offering in instant ink with total subscribers increasing year over year to over 8 million, benefitting from working from home.

We made strides in our 3D printing franchise as in response to COVID-19 customers pivoted Multi Jet Fusion applications and produced 3D printed parts for face shields, face masks and other items for hospitals. In addition, we introduced a new tooling solution for 3D molded fiber manufacturing.

(1)

CC = constant currency; Adjusted to exclude the effects of foreign currency fluctuations calculated by translating current period revenues using monthly average exchange rates from the comparative period and excluding any hedging impact recognized in the current period.

NOTE: Arrows represent the mathematical direction of the amount the arrow is associated with.

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