Wall Street was looking for earnings of 52 cents per share on revenue of $14.88 billion.
"We continued to drive top and bottom line growth in Q1 and are reaffirming our non-GAAP EPS and free cash flow financial outlook for the year," CEO Dion Weisler said in a statement. "We are benefitting from our market-leading portfolio and accelerating our transformation with momentum in services, solutions and 3D printing as we reinvent HP and position the business for long-term sustainable growth."
Personal Systems net revenue was up 2 percent year-over-year. Within that segment, commercial net revenue increased 3 percent and consumer net revenue increased 1 percent. Total units were down 3 percent, with Notebooks units down 1 percent and Desktops units down 8 percent.
Printing net revenue was mostly flat year-over-year. Total hardware units were up 3 percent with commercial hardware units up 4 percent and consumer hardware units up 2 percent. Supplies net revenue was down 3 percent.
HP's net cash provided by operating activities in the first quarter was $900 million. The company generated $700 million of free cash flow in the first quarter.
In Q1, HP returned $1 billion to shareholders in the form of share repurchases and dividends.
For the fiscal 2019 second quarter, HP estimats a non-GAAP diluted net EPS in the range of 50 cents to 53 cents.