HP’s profits for information technology products declined, in the second quarter of the current fiscal year 2023 (ending at the end of October 2023), by 21.7%, to $12.9 billion, from $16.5 billion in the same period last year.
HP announced today that its earnings per share, according to generally accepted accounting principles, exceeded expectations at $1.07 per share from levels of 40 and 50 cents.
The company’s financial statements showed an increase in its net profits during the second quarter of this year, by 7%, to $1.1 billion, compared to $1 billion in the second quarter of last year, while net revenues from sales of personal systems (notebooks and personal computers) declined. By 29% year on year, to $8.2 billion.
HP’s net profit from selling printers decreased by 5%, on an annual basis, to $4.7 billion. Net profit from operating activities amounted to $600 million, and free cash flows recorded $500 million.
Headquartered in California, US, HP operates in 170 countries around the world and offers a range of innovative and sustainable devices, services and subscriptions for personal computing, printing, 3D printing and gaming.
2023-05-31 05:10:00
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