HP Inc. Reports Fiscal 2024 Third Quarter Results

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

  • Third quarter GAAP diluted net earnings per share ("EPS") of $0.65, within the previously provided outlook of $0.63 to $0.77 per share
  • Third quarter non-GAAP diluted net EPS of $0.83, within the previously provided outlook of $0.78 to $0.92 per share
  • Third quarter net revenue of $13.5 billion, up 2.4% from the prior-year period
  • Third quarter net cash provided by operating activities of $1.4 billion, free cash flow of $1.3 billion
  • Third quarter returned $0.9 billion to shareholders in the form of share repurchases and dividends
  • Share repurchase authorization increased to $10.0 billion
HP Inc.'s fiscal 2024 third quarter financial performance
 Q3 FY24Q3 FY23Y/Y
GAAP net revenue ($B)$13.5  $13.2  2.4%
GAAP operating margin 7.0%   7.2%  (0.2) pts
GAAP net earnings ($B)$0.6  $0.8  (16)%
GAAP diluted net EPS$0.65  $0.76  (14)%
Non-GAAP operating margin 8.1%   8.8%  (0.7) pts
Non-GAAP net earnings ($B)$0.8  $0.9  (5)%
Non-GAAP diluted net EPS$0.83  $0.86  (3)%
Net cash provided by operating activities ($B)$1.4  $1.0  46%
Free cash flow ($B) $ 1.3     $ 0.9     50 %

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