HP Inc. Reports Fiscal 2024 First Quarter Results

PALO ALTO, Calif, Feb. 28, 2024 (GLOBE NEWSWIRE) -- HP (NYSE: HPQ)

  • First quarter GAAP diluted net earnings per share ("EPS") of $0.62, within the previously provided outlook of $0.60 to $0.70 per share
  • First quarter non-GAAP diluted net EPS of $0.81, within the previously provided outlook of $0.76 to $0.86 per share
  • First quarter net revenue of $13.2 billion, down 4.4% from the prior-year period
  • First quarter net cash provided by operating activities of $121 million, free cash flow of $25 million
  • First quarter returned $0.8 billion to shareholders in the form of share repurchases and dividends
HP Inc.'s fiscal 2024 first quarter financial performance
 Q1 FY24Q1 FY23Y/Y
GAAP net revenue ($B)$13.2 $13.8 (4.4)%
GAAP operating margin 7.1%  5.4% 1.7 pts
GAAP net earnings ($B)$0.6 $0.5 33%
GAAP diluted net EPS$0.62 $0.47 32%
Non-GAAP operating margin 8.4%  7.6% 0.8 pts
Non-GAAP net earnings ($B)$0.8 $0.7 11%
Non-GAAP diluted net EPS$0.81 $0.73 11%
Net cash provided by (used in) operating activities ($B)(1)$0.1 $(0.0) NM
Free cash flow ($B)(1)$0.0 $(0.2)  NM

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