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HP Inc. Reports Third Quarter Fiscal 2024 Financial Results
PALO ALTO, Calif., Aug. 28, 2024 (GLOBE NEWSWIRE) — HP (NYSE: HPQ)
HP Inc. recently announced its third quarter financial results for fiscal year 2024. The company reported GAAP diluted net earnings per share (“EPS”) of $0.65, which fell within the previously provided outlook of $0.63 to $0.77 per share. Non-GAAP diluted net EPS was reported at $0.83, also within the expected range of $0.78 to $0.92 per share. HP Inc. achieved a net revenue of $13.5 billion for the third quarter, marking a 2.4% increase from the previous year.
In addition, the company reported net cash provided by operating activities of $1.4 billion and free cash flow of $1.3 billion for the third quarter. Shareholders were returned $0.9 billion through share repurchases and dividends, with a share repurchase authorization increase to $10.0 billion.
Looking at the fiscal 2024 third quarter financial performance compared to the previous year, HP Inc. showed growth in net revenue, operating margin, and cash flow. Non-GAAP metrics also demonstrated positive performance, with a slight decrease in net earnings and diluted net EPS.
Overall, HP Inc.’s financial results for the third quarter of fiscal 2024 indicate a stable performance with growth in key areas. The company’s strategic focus on innovation and customer-centric solutions seems to be paying off, as reflected in its financial performance.
How Will This Affect Me?
As a consumer or investor, HP Inc.’s financial results can have implications for you. Positive financial performance may signal stability and growth potential for the company, which could translate to better products and services for consumers. For investors, strong financial results may indicate a healthy investment opportunity with potential returns.
How Will This Affect the World?
HP Inc.’s financial performance can also have broader implications for the technology industry and the global economy. A successful company like HP Inc. can contribute to innovation and competitiveness in the tech sector, driving overall growth and development. Additionally, strong financial results can boost investor confidence and market sentiment, potentially benefiting the economy as a whole.
Conclusion
HP Inc.’s third quarter fiscal 2024 financial results showcase a solid performance with growth in key areas. The company’s focus on innovation and customer solutions appears to be yielding positive outcomes, positioning HP Inc. for continued success in the ever-evolving tech landscape.
