HP Second Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Simply Wall St

May 31, 2024

HP (NYSE:HPQ) Second Quarter 2024 Results

Key Financial Results

Revenue: US$12.8b (flat on 2Q 2023).
Net income: US$607.0m (down 41% from 2Q 2023).
Profit margin: 4.7% (down from 8.0% in 2Q 2023).
EPS: US$0.62 (down from US$1.05 in 2Q 2023).

earnings-and-revenue-growth — NYSE:HPQ Earnings and Revenue Growth May 31st 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

HP Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 1.5%. Earnings per share (EPS) missed analyst estimates by 12%.

Looking ahead, revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Tech industry in the US.

Performance of the American Tech industry.

The company's shares are up 17% from a week ago.

Risk Analysis

We should say that we've discovered 4 warning signs for HP (1 makes us a bit uncomfortable!) that you should be aware of before investing here.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.