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 (NYSE: HPQ) reported its fiscal Q3 2020 results with a net revenue of $14.3 billion, a 2.1% decline year-over-year. GAAP diluted EPS was $0.52, down 33.3% from $0.78 in Q3 FY19, but above the forecast of $0.35 to $0.41. Non-GAAP diluted EPS also fell to $0.49 from $0.58, exceeding the expected range of $0.39 to $0.45. HP returned $1.2 billion to shareholders through share repurchases and dividends, with a strong cash flow of $1.6 billion. The outlook for Q4 estimates GAAP diluted EPS between $0.32 to $0.36.
HP Inc. (NYSE: HPQ) will host a live audio webcast on August 27, 2020, at 4:30 p.m. ET to discuss its financial results for the third fiscal quarter ended July 31, 2020. Interested parties can access the webcast at www.hp.com/investor/2020Q3Webcast, and a replay will be available for one year post-call.
HP Inc. focuses on creating technology that enhances life through its diverse range of products and services, including personal systems and 3D printing solutions.
HP Inc. has launched new Managed Print Cloud Services to facilitate companies' transition to cloud-based environments, enhancing flexibility and control over printing. This service provides a cloud-based print environment tailored to clients, integrating with Universal Print from Microsoft 365. Additionally, a revamped Flexworker Solutions program has been introduced, allowing remote workers to easily obtain printers and supplies through an online portal. This initiative aims to streamline IT processes, improve security, and potentially reduce costs for organizations.
HP Inc. introduced a suite of remote work offerings to assist partners in modernizing infrastructure and transitioning to cloud solutions. Key features include HP Advance, an integrated platform for managing print services, and HP Command Center, a tool for remote fleet management. New enhancements such as touch-free printing and HP Instant Ink subscriptions are designed to boost productivity for distributed workforces. The drive towards automation and adaptability was emphasized as companies adapt to new work environments.
HP Inc. has launched HP Amplify, a new global channel partner program set to start on November 1, 2020, aimed at enhancing partner growth and improving customer experiences. The program simplifies access to tools and rewards partners for their performance, with two distinct tracks: Synergy and Power. HP Amplify focuses on digital transformation, offering data-driven insights and collaboration tools. Additionally, it promotes sustainability through the HP Amplify Impact initiative, which emphasizes a commitment to a low-carbon economy and community support.
HP Inc. (HPQ) has deployed its D300e BioPrinters to four major research facilities in the U.S. and Europe at no cost, aiming to boost drug and vaccine research against COVID-19. The facilities include the Spanish National Research Council, University of Houston's CNRCS, Fondazione Toscana Life Sciences, and Grenoble Alpes University Hospital. This initiative is part of HP's broader commitment, which includes $8 million in technology and grants to support COVID-19 relief efforts. The BioPrinters facilitate the precise dispensing of pharmaceutical samples and are expected to enhance research efficiency.
The Board of Directors of HP Inc. (NYSE: HPQ) has approved the acceleration of the expiration date for its shareholder rights plan, terminating it as of June 25, 2020. This plan was initially set to expire on February 20, 2021. Chair Chip Bergh stated that the termination aligns with HP's current corporate governance practices, noting that there is no longer a threat of a hostile tender offer against the company. The board concluded that maintaining the plan was no longer appropriate.
The HP Inc. board has declared a cash dividend of $0.1762 per share on its common stock. This marks the fourth dividend for fiscal year 2020. The payment will be made on October 7, 2020, to shareholders on record as of September 9, 2020. HP has around 1.4 billion shares of common stock outstanding, reflecting ongoing shareholder returns and financial stability.
HP Inc. reported significant progress in its sustainability initiatives, driving over $1.6 billion in new sales in FY19, a 69% increase from the previous year. The company advanced its diversity agenda with 63% of U.S. hires from underrepresented groups and a commitment to double the number of Black executives by 2025. $698 million was generated through its Supplier Diversity Program. Additionally, HP pledged to eliminate 75% of plastic packaging by 2025 and expanded its Sustainable Forests Collaborative, reflecting a strong commitment to environmental justice and corporate responsibility.
HP Inc. (NYSE: HPQ) announced the redemption of all remaining Global Notes, totaling approximately $867.5 million, on July 22, 2020. This includes $472.3 million of 3.750% Notes due December 1, 2020, and $395.2 million of 4.300% Notes due June 1, 2021. Notices will be sent by The Bank of New York Mellon Trust Company. This move is part of HP's strategy to strengthen its balance sheet, which includes a recent $3 billion public offering of senior unsecured notes and the establishment of a new $1 billion revolving credit facility. The actions aim to enhance financial flexibility and support future investments.
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