HP Reports Q4 FY2024 Financial Results

HP Reports Q4 FY2024 Financial Results

HP Inc. and its subsidiaries have released their financial results for the fourth quarter of fiscal year 2024, marking the second consecutive quarter of revenue growth.

Net revenue for the quarter reached US$14.1 billion, representing a 1.7% increase compared to the same period last year. The company generated US$1.6 billion in net cash through operating activities, yielding US$1.5 billion in free cash flow.

For the full fiscal year 2024, HP reported total net revenue of US$53.6 billion, reflecting a slight decline of 0.3% year-on-year. Net cash from operating activities amounted to US$3.7 billion, while free cash flow totaled US$3.3 billion.

President and CEO Enrique Lores expressed confidence in the company’s trajectory, stating, “With momentum heading into FY25, we are well-positioned to capitalize on commercial opportunities and lead the future of work.”

Analyzing segment performance, printing revenue reached US$4.5 billion, a 1% year-on-year increase. Consumer printing revenue grew by 3%, while commercial printing recorded a 1% decline. Supplies revenue rose 2% compared to 2023. Total hardware unit sales increased by 9.5%, with consumer printing units and commercial printing units growing by 10% and 9%, respectively. Meanwhile, personal systems revenue stood at US$9.6 billion for the quarter.

Looking ahead to fiscal year 2025, HP projects a GAAP diluted net EPS of US$0.57 to US$0.63 and a non-GAAP diluted net EPS of US$0.70 to US$0.76 for the first quarter. For the full year, the company anticipates GAAP diluted net EPS between US$3.06 and US$3.36, non-GAAP diluted net EPS ranging from US$3.45 to US$3.75, and free cash flow in the range of US$3.2 to US$3.6 billion.

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