HP Inc. Reports Mixed Fiscal 2024 Results

HP Inc ( (HPQ) ) has released its Q4 earnings. Here is a breakdown of the information HP Inc presented to its investors.

HP Inc. is a global technology company specializing in personal computing, printing, and other related services, known for its innovative and sustainable solutions worldwide. In its fiscal 2024 full year and fourth quarter results, HP Inc. reported mixed financial performance. The company exceeded its GAAP diluted net earnings per share (EPS) expectations for both the year and the fourth quarter. Notably, HP achieved a fiscal year GAAP diluted net EPS of $2.81, surpassing its outlook, and a fourth-quarter GAAP diluted net EPS of $0.93, also above projections. However, the annual net revenue slightly declined by 0.3% to $53.6 billion, despite a 1.7% increase in fourth-quarter revenue to $14.1 billion. A significant highlight was the company’s return of $3.2 billion to shareholders through dividends and share repurchases during the year. The report showed a slight decline in GAAP net earnings for the year at $2.8 billion, down 15% from the previous year, while non-GAAP net earnings remained stable. The Personal Systems segment showed growth, particularly in commercial operations, whereas the Printing segment saw a moderate increase. HP’s fiscal outlook remains positive as they anticipate solid growth in revenue, non-GAAP net earnings, EPS, and free cash flow in fiscal 2025. The company has also announced a 5% increase in their annual dividend, reflecting confidence in future performance.