HP Inc. Reports Fiscal 2024 Second Quarter Results

PALO ALTO, Calif., May 29, 2024 (GLOBE NEWSWIRE) -- HP (NYSE: HPQ)

  • Second quarter GAAP diluted net earnings per share ("EPS") of $0.61, within the previously provided outlook of $0.58 to $0.68 per share
  • Second quarter non-GAAP diluted net EPS of $0.82, within the previously provided outlook of $0.76 to $0.86 per share
  • Second quarter net revenue of $12.8 billion, down 0.8% from the prior-year period
  • Second quarter net cash provided by operating activities of $0.6 billion, free cash flow of $0.5 billion
  • Second quarter returned $0.4 billion to shareholders in the form of dividends and share repurchases
 
HP Inc.'s fiscal 2024 second quarter financial performance
 Q2 FY24Q2 FY23Y/Y
GAAP net revenue ($B)$12.8 $12.9 (0.8)%
GAAP operating margin 7.4%  5.8% 1.6 pts
GAAP net earnings ($B)$0.6 $1.1 (42)%
GAAP diluted net EPS$0.61 $1.06 (42)%
Non-GAAP operating margin 8.8%  8.6% 0.2 pts
Non-GAAP net earnings ($B)$0.8 $0.8 3%
Non-GAAP diluted net EPS$0.82 $0.79 4%
Net cash provided by operating activities ($B)$0.6 $0.6 (9)%
Free cash flow ($B)$0.5 $0.5 (11)%
        

Notes to table
Information about HP Inc.'s use of non-GAAP financial information is provided under "Use of non-GAAP financial information" below.

Net revenue and EPS results
HP Inc. and its subsidiaries (“HP”) announced fiscal 2024 second quarter net revenue of $12.8 billion, down 0.8% (down 1.2% in constant currency) from the prior-year period.

“We delivered a solid quarter and first half, and unveiled an innovative portfolio of solutions designed for the AI and hybrid era,” said Enrique Lores, President and CEO, HP Inc. "We have a clear strategy and are well positioned to drive profitable growth across our business.”

Second quarter GAAP diluted net EPS was $0.61, down from $1.06 in the prior-year period and within the previously provided outlook of $0.58 to $0.68. Second quarter non-GAAP diluted net EPS was $0.82, up from $0.79 in the prior-year period and within the previously provided outlook of $0.76 to $0.86. Second quarter non-GAAP net earnings and non-GAAP diluted net EPS excludes after-tax adjustments of $205 million, or $0.21 per diluted share, related to restructuring and other charges, acquisition and divestiture charges, amortization of intangible assets, non-operating retirement-related credits and tax adjustments.

1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16  Next Page »
Featured Video
Jobs
Senior Principal Mechanical Engineer for General Dynamics Mission Systems at Canonsburg, Pennsylvania
GIS Analyst for San Bernardino County Transportation Authority at San Bernardino, California
Mechanical Engineer for PTEC Solutions at Fremont, California
Upcoming Events
Commercial UAV Expo USA - 2024 at Caesars Forum Las Vegas NV - Sep 3 - 5, 2024
World Architecture Festival 2024 at Marina Bay Sands Singapore - Nov 6 - 8, 2024
Dimensions User Conference 2024 at The Venetian Resort Las Vegas NV - Nov 11 - 13, 2024
Greenbuild 2024 at Pennsylvania Convention Center Philadelphia PA - Nov 12 - 15, 2024



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us, or visit our other sites:
TechJobsCafe - Technical Jobs and Resumes EDACafe - Electronic Design Automation GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise