From GlobeNewswire: 2024-11-26 16:15:00

HP Inc. reported Fiscal 2024 net revenue of $53.6 billion, down 0.3% from the prior year. GAAP diluted net EPS was $2.81, down from $3.26 in the prior year. Fourth quarter net revenue was $14.1 billion, up 1.7% year over year. HP aims to capitalize on commercial opportunities and lead the future of work.

HP’s asset management showed net cash provided by operating activities of $3.7 billion in Fiscal 2024. Fourth quarter net cash provided by operating activities was $1.6 billion. HP increased its dividend by 5%. FY25 outlook estimates GAAP diluted net EPS of $0.57 to $0.63 for Q1 and $3.06 to $3.36 for FY25.

Non-GAAP financial measures provided by HP include net revenue on a constant currency basis, free cash flow, and gross cash. These measures exclude restructuring charges, acquisition expenses, amortization of intangible assets, and other one-time costs to provide a clearer picture of HP’s operational performance. Key growth areas for HP include hybrid systems, gaming, and consumer subscriptions.

HP acknowledges limitations of non-GAAP measures and provides reconciliations to GAAP results. HP believes non-GAAP measures offer investors a more comprehensive view of its financial and operational performance and facilitate comparisons with industry peers. HP’s Investor Relations website contains detailed financial information and reports for investors.



Read more at GlobeNewswire:: HP Inc. Reports Fiscal 2024 Full Year and Fourth Quarter