HP Inc. - HPQ STOCK NEWS

HP Inc. (NYSE: HPQ) has announced it will hold a live audio webcast to discuss its third quarter fiscal 2024 financial results on August 28, 2024, at 5:00 p.m. ET / 2:00 p.m. PT. The webcast will be accessible at www.hp.com/investor/2024Q3Webcast. This event covers the fiscal quarter ending July 31, 2024. For those unable to attend the live event, a replay of the audio webcast will be made available on the same website shortly after the call concludes and will remain accessible for approximately one year.

HP Inc. (NYSE: HPQ) has announced new comprehensive U.S. consumer financing options for products purchased on HP.com. By partnering with ChargeAfter, Bread Financial, Concora Credit, and Koalafi, HP now offers financing to nearly every U.S. consumer across all credit tiers. Options include promotional financing for qualified buyers and lease-to-own with no credit needed.

This initiative aims to empower consumers with purchasing power for PCs, printers, and peripherals. The move responds to increased financial pressures and consumer demand for flexible payment options. HP's new financing program includes private label credit cards, buy now pay later options, non-prime credit access, and lease-to-own arrangements. The company plans to expand these options to other markets in the future.

HP Inc. has unveiled two groundbreaking AI innovations: the world's highest performance AI PC and the first integration of a trust framework into an AI model development platform. The company introduced the HP OmniBook Ultra, a 14-inch Next Gen AI PC with up to 55 TOPS of NPU performance, and enhanced Z by HP AI Studio with Galileo integration for safer AI model development. HP also announced the OmniStudio X AIO, an adaptable All-In-One Desktop PC with built-in AI features. These innovations aim to empower users across various sectors to harness AI capabilities for improved productivity, creativity, and security.

HP Inc. (NYSE: HPQ) announced that Karen Parkhill will assume the role of Chief Financial Officer on August 5, 2024. Tim Brown, the interim CFO, will return to his position as the head of Print Finance. Parkhill brings over 13 years of experience as a CFO at publicly traded companies and most recently served as Executive Vice President and CFO at Medtronic. Her extensive background includes leadership roles at JP Morgan and Comerica. HP CEO Enrique Lores praised Parkhill's expertise in finance and innovation, highlighting her role in advancing HP's Future Ready strategy. Parkhill expressed excitement about joining HP and contributing to its growth.

HP Inc. (NYSE: HPQ) announced the appointment of Ma. Fatima ('Fama') De Vera Francisco to its Board of Directors, effective immediately. Francisco, CEO of Baby, Feminine and Family Care at Procter & Gamble, brings 35 years of experience in brand-building and innovation. Her roles at P&G include being the first female sales manager in the Philippines and the first Asian female Sector CEO. HP's Chair, Chip Bergh, and President and CEO, Enrique Lores, praised her ability to contribute to HP's growth and Future Ready strategy.

HP has released a new study with Oxford Economics, indicating that 76% of business and government leaders believe technology is essential for economic inclusion. The study shows increasing enthusiasm for AI, with business leaders planning to leverage it for digital education, workforce development, and diversity goals.

HP announced significant progress in digital equity, reaching 45 million people since 2021, aiming for 150 million by 2030. Key initiatives include the Digital Equity Accelerator and Digital Hubs, which have impacted millions globally. HP is also expanding its skills-building program, HP LIFE, and introducing AI-focused initiatives, such as new AI courses and the HP AI in Social Impact Award.

HP Inc. (NYSE: HPQ) has announced a cash dividend of $0.2756 per share on its common stock, payable on October 2, 2024. This is the fourth dividend for HP in fiscal year 2024. The dividend will be available to stockholders of record as of September 11, 2024. HP currently has around 1.0 billion shares of common stock outstanding.

HP reported its fiscal 2024 second quarter results with GAAP diluted EPS of $0.61, within the outlook range of $0.58 to $0.68, but down from $1.06 Y/Y. Non-GAAP diluted EPS was $0.82, within the outlook range of $0.76 to $0.86, slightly up from $0.79 Y/Y. Net revenue was $12.8 billion, a 0.8% decrease from last year. The company generated $0.6 billion in net cash from operating activities and returned $0.4 billion to shareholders through dividends and share repurchases. Personal Systems revenue increased by 3% to $8.4 billion, while Printing revenue declined by 8% to $4.4 billion. For Q3 FY24, HP forecasts GAAP diluted EPS between $0.63 to $0.77 and non-GAAP diluted EPS between $0.78 to $0.92. Full-year estimates for fiscal 2024 predict GAAP diluted EPS of $2.60 to $2.90 and non-GAAP diluted EPS of $3.30 to $3.60, with free cash flow expected to be $3.1 to $3.6 billion.

HP has unveiled a new class of next-gen AI PCs at Microsoft's AI Vision Event, designed to enhance productivity and creativity. The HP OmniBook X AI PC and HP EliteBook Ultra AI PC feature ARM architecture and the Snapdragon X Elite processor with a dedicated Neural Processing Unit (NPU) capable of 45 trillion operations per second. These devices offer record-breaking 26-hour battery life and robust security against AI-generated threats.

Key features include lightning-fast responsiveness, AI tools for enhanced collaboration and content creation, and sustainable design. The HP OmniBook X is priced at $1,199.99, while the HP EliteBook Ultra starts at $1,699.99, with pre-orders available and shipping starting June 18, 2024.