HP Inc. - HPQ STOCK NEWS

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.

HP's recent HP Wolf Security Threat Insights Report reveals how cybercriminals are using advanced techniques like open redirects, Living-off-the-Land (LotL) tactics, and invoice lures to bypass security defenses. The report highlights significant campaigns, including the exploitation of open redirect vulnerabilities and the abuse of Windows Background Intelligent Transfer Service (BITS) for malware downloads. The report underscores the effectiveness of these methods in evading detection, especially through email attachments and browser downloads, with a notable 12% of email threats bypassing gateway scanners. HP emphasizes the importance of a defense-in-depth approach, isolating and containing high-risk activities to reduce attack surfaces.

HP Inc. (NYSE: HPQ) announced a cash dividend of $0.2756 per share on its common stock, marking the third dividend in its fiscal year 2024.

The dividend is payable on July 3, 2024, to stockholders of record as of June 12, 2024.

HP has approximately 1.0 billion shares of common stock outstanding.

HP Inc. (NYSE: HPQ) will announce its second quarter fiscal 2024 earnings on May 29, 2024, with a live webcast to review financial results. HP Inc. is a global technology leader offering innovative solutions in personal computing, printing, 3D printing, hybrid work, gaming, and more, operating in over 170 countries. Investors can access the webcast at www.hp.com/investor/2024Q2Webcast and a replay will be available on the same site. For more information, visit http://www.hp.com.