PALO ALTO, Calif, Feb. 28, 2024 (GLOBE NEWSWIRE) -- HP (NYSE: HPQ)
- First quarter GAAP diluted net earnings per share ("EPS") of $0.62, within the previously provided outlook of $0.60 to $0.70 per share
- First quarter non-GAAP diluted net EPS of $0.81, within the previously provided outlook of $0.76 to $0.86 per share
- First quarter net revenue of $13.2 billion, down 4.4% from the prior-year period
- First quarter net cash provided by operating activities of $121 million, free cash flow of $25 million
- First quarter returned $0.8 billion to shareholders in the form of share repurchases and dividends
| HP Inc.'s fiscal 2024 first quarter financial performance | |||||||
| Q1 FY24 | Q1 FY23 | Y/Y | |||||
| GAAP net revenue ($B) | $ | 13.2 | $ | 13.8 | (4.4)% | ||
| GAAP operating margin | 7.1% | 5.4% | 1.7 pts | ||||
| GAAP net earnings ($B) | $ | 0.6 | $ | 0.5 | 33% | ||
| GAAP diluted net EPS | $ | 0.62 | $ | 0.47 | 32% | ||
| Non-GAAP operating margin | 8.4% | 7.6% | 0.8 pts | ||||
| Non-GAAP net earnings ($B) | $ | 0.8 | $ | 0.7 | 11% | ||
| Non-GAAP diluted net EPS | $ | 0.81 | $ | 0.73 | 11% | ||
| Net cash provided by (used in) operating activities ($B)(1) | $ | 0.1 | $ | (0.0) | NM | ||
| Free cash flow ($B)(1) | $ | 0.0 | $ | (0.2) | NM | ||
