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 reported a strong second quarter for fiscal 2021, achieving net revenue of $15.9 billion, a 27.3% increase year-over-year. The GAAP diluted EPS reached $0.98, significantly exceeding previous forecasts. Non-GAAP diluted EPS was $0.93, also above outlook projections. The company generated $1.4 billion in operating cash flow and returned 137% of its free cash flow to shareholders, totaling $1.8 billion in buybacks and dividends. Looking ahead, HP estimates a third quarter GAAP diluted EPS range of $0.77 to $0.81 and maintains a positive full-year outlook.
The HP Inc. board has declared a cash dividend of $0.1938 per share on its common stock, marking the third dividend for fiscal year 2021. This dividend is payable on July 7, 2021, to stockholders of record as of June 9, 2021. HP has approximately 1.2 billion outstanding shares, indicating a strong commitment to returning value to shareholders. The company continues to create technology that enhances life globally through its diverse product offerings.
HP Inc. announced the appointment of Kristen Ludgate as Chief People Officer, effective July 12, 2021. Ludgate, previously at 3M as Chief Human Resources Officer, will lead HP's global human resources organization, focusing on employee experience, talent acquisition, and diversity, equity, and inclusion. HP's President, Enrique Lores, praised her innovative leadership and extensive experience, which included transforming organizational culture and overseeing talent initiatives at 3M. Ludgate holds a bachelor's degree from Bowdoin College and a J.D. from the University of Minnesota Law School.
HP introduced its new Victus by HP 16-inch laptop, targeting mainstream gamers and designed with OMEN's DNA. The device features top-tier performance with options for NVIDIA GeForce RTX 3060 graphics and Intel Core i7 processors. The gaming lineup also includes OMEN 16 and OMEN 17 laptops, featuring advanced cooling technology and immersive displays. The OMEN Gaming Hub enhances user experience with new features like OMEN OASIS for gameplay streaming. Pricing for the Victus starts at $799.99, with availability in June 2021. The company emphasizes sustainability in its product design.
HP Inc. has announced its commitment to gender parity in leadership by 2030, becoming the first Fortune 100 tech company to do so. The company aims for 50% gender equality in leadership roles and over 30% technical women by 2030. HP also plans to meet or exceed labor market representation for racial/ethnic minorities in the U.S. and maintain a high internal inclusion index rating. These goals are part of HP's Sustainable Impact strategy, aiming to create a positive impact on society and the environment.
HP Inc. has strengthened its management team with key appointments aimed at enhancing long-term growth. On May 19, 2021, Greg Baxter was named Chief Transformation Officer, focusing on digital capabilities and cost reduction. He succeeds Marie Myers, now the CFO. Didier Deltort was appointed President of Personalization & 3D Printing, directing global business management and innovation in 3D Printing. Both executives bring extensive experience from leading roles in major companies, with an emphasis on driving commercial growth and operational efficiency.
HP Inc. has launched HP Indigo Secure, a suite of innovative security and brand protection solutions, alongside the HP Indigo 6K Secure Press, specifically targeting the security printing market. This press delivers comprehensive security solutions through multi-layered printing in a secure environment. The impact of counterfeiting is projected to cost global businesses $4.2 trillion. HP's new offerings aim to assist governments and brands in combating intellectual property violations and losses.
HP Inc. and CCL Industries announced the installation of CCL's 100th HP Indigo digital press, marking a significant milestone in their partnership. The latest installation is the world's first HP Indigo 35K Digital Press, aimed at expanding into the folding carton market at CCL's Healthcare facility in Montreal. This B2 sheetfed press enhances brand protection with advanced printing technologies. The global self-adhesive labels market is projected to grow significantly, indicating strong market potential for HP and CCL.
HP Inc. has announced enhanced print services aimed at increasing workforce productivity and protecting corporate data. The new Flexworker offering integrates with HP Wolf Security for secure printing at home or in the office. This scalable service includes HP Secure Print and Internet Printing functionalities, addressing security concerns around compromised printers as noted by 45% of IT decision-makers. The new offerings are expected to roll out between June and August 2021, enhancing secure printing capabilities and enterprise management tools for hybrid workforces.
HP Inc. (NYSE: HPQ) has launched HP Wolf Security, a comprehensive security platform integrating PCs and printers with advanced endpoint protection against cyber threats. This initiative comes amidst a 238% increase in cyberattacks during the COVID-19 pandemic, particularly targeting remote workers. The platform reflects over 20 years of security innovation, emphasizing a Zero Trust approach. Key features include hardware-enforced security, self-healing firmware, and tailored solutions for home and business users. The launch aims to address rising security needs and enhance resilience in a shifting work landscape.
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