Welcome to our dedicated page for HP news (Ticker: HPQ), a resource for investors and traders seeking the latest updates and insights on HP stock.
HP Inc. (NYSE: HPQ) is a global leader in technology innovation, creating products and solutions designed to improve life for everyone, everywhere. Founded in 1939 and known initially as Hewlett-Packard, HP is a dominant force in the PC and printing markets. Since its split from Hewlett Packard Enterprise in 2015, HP has focused on providing advanced computing and printing products, particularly for commercial markets, while also offering consumer devices and printers.
HP's extensive product portfolio includes personal computers, printers, and 3D printing solutions, catering to a diverse and global customer base. The company operates in more than 170 countries, with only one-third of its sales coming from the US. HP's operations are heavily reliant on channel partners for sales and marketing, and its manufacturing processes are entirely outsourced.
HP is committed to sustainability and innovation, continuously reinventing its product offerings to meet the evolving needs of customers. The company's latest achievements include the introduction of the industry's first role-based AI partner training and certification program through the Amplify Partner Program. This initiative aims to equip channel partners with the knowledge and tools needed to leverage HP's broad portfolio of over 100 AI-enabled solutions.
HP's financial performance remains robust, with a strong focus on profitability and growth. In its fiscal 2024 second quarter, the company reported net revenue of $12.8 billion. HP continues to invest in AI and hybrid work solutions, unveiling the industry's largest portfolio of AI PCs and launching innovative products such as the HP OmniBook X AI PC and HP EliteBook Ultra AI PC, designed to enhance productivity and creativity in hybrid work environments.
HP's strategic partnerships and collaborations, such as the recent establishment of the HKPC-HP 3D Printing Technology Centre in Hong Kong, highlight its commitment to driving technological advancement and fostering sustainable development. This initiative is expected to accelerate the adoption of 3D printing technologies, benefiting various industries and supporting Hong Kong's industrial transformation.
Moreover, HP's dedication to security is evident in its HP Wolf Pro Security suite, which was recently recognized as a top product for corporate endpoint protection by AV-TEST. This suite offers advanced threat protection capabilities, making it an efficient and cost-effective option for small and mid-sized businesses.
HP's focus on innovation, sustainability, and partner growth positions it as a leader in the technology industry, continuously pushing the boundaries to create technology that makes life better for people all around the world.
HP Inc. (NYSE: HPQ) will hold a live audio webcast on February 28, 2023, at 5:00 p.m. ET to discuss its financial results for the first fiscal quarter ending January 31, 2023. Investors can access the webcast at www.hp.com/investor/2023Q1Webcast. A replay will be available shortly after the call and will remain accessible for about a year. HP is recognized globally for its innovative technology solutions, operating in over 170 countries and focusing on personal computing, printing, and gaming.
HP Inc. announced a cash dividend of $0.2625 per share on its common stock, marking the second dividend payment in fiscal year 2023. The dividend is payable on April 5, 2023, to stockholders of record by March 8, 2023. HP has approximately 1.0 billion shares outstanding. Additionally, the company set a record date of February 23, 2023 for its annual meeting, scheduled for April 24, 2023, where stockholders can vote on key matters.
HP Inc. unveiled its new product lineup at CES 2023, emphasizing sustainability and hybrid work solutions. The HP Dragonfly portfolio now includes devices tailored for freelancers, featuring all-day battery life and 24/7 support. Notable products include the HP Dragonfly Pro Chromebook with an 8 MP camera and the Poly Voyager Free 60 Series earbuds for enhanced audio experiences. HP's commitment to sustainability is evident in its use of recycled materials in new PCs. Upcoming products will be available in 2023, enhancing productivity and connectivity for users.
HP Wolf Security's report reveals critical insights into evolving cyber threats. The latest findings indicate that 44% of malware is delivered through archive files, surpassing Office files for the first time in three years. The report highlights increased use of HTML smuggling techniques alongside archive files to evade detection. Cybercriminals employed deceptive tactics, tricking users into executing malicious ZIP files. HP emphasizes the importance of adopting Zero Trust principles and micro-virtualization to enhance security against these sophisticated attacks.
HP Inc. has announced a cash dividend of $0.2625 per share, marking a 5% increase over the previous dividend. This dividend is the first for the company's fiscal year 2023 and is set to be distributed on January 4, 2023, to shareholders on record as of December 14, 2022. With approximately 1.0 billion shares outstanding, this dividend reflects the company's ongoing commitment to returning value to its shareholders.
HP (NYSE: HPQ) reported fiscal 2022 GAAP diluted EPS of $3.05, below guidance of $3.46-$3.56. Non-GAAP diluted EPS was $4.08, within the expected range. Revenue totaled $63.0 billion, a 0.8% decline year-over-year. The fourth quarter saw a revenue drop of 11.2% to $14.8 billion, with a negligible GAAP diluted EPS due to non-cash tax adjustments. HP returned $5.3 billion to shareholders, including a 5% dividend increase. The Future Ready Transformation Plan aims for $1.4 billion in cost savings by fiscal 2025, with an estimated $1.0 billion in restructuring charges.
HP Inc. (NYSE: HPQ) has completed its change of control repurchase offer for 4.750% notes due 2029, accepting $488.2 million in notes. The offer, which expired on November 16, 2022, saw over 90% of outstanding notes tendered. HP made a payment of 101% of the principal amount and $4.9 million in accrued interest on November 17, 2022. This action allows HP to redeem any remaining outstanding notes, providing a strategic financial move post-acquisition.
HP showcased its latest innovations in additive manufacturing at Formnext, unveiling the HP Jet Fusion 5420W Solution for producing white parts and the Metal Jet S100 Solution in collaboration with John Deere, enhancing production efficiency and sustainability. Key highlights include new strategic partnerships for post-processing and a recycling program.
HP's Digital Manufacturing Network has expanded, printing over 70 million additional parts in the past year. The company aims to meet market demands for sustainable production and personalization through advanced 3D printing technologies.
Poly has announced the launch of its new Studio Systems for Zoom Rooms, which are powered by HP technology. These systems include the award-winning Poly video solutions and the innovative TC10 controller. Designed for small, medium, and large Zoom Rooms, Poly's systems support various operating systems and incorporate AI capabilities for improved meeting experiences. The products will be available in North America and Europe starting late November 2022 and globally in early 2023. Poly aims to enhance hybrid work setups, ensuring users are heard and seen clearly in meetings.
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