HP Inc. reported fiscal year 2024 net revenue of $53.6 billion, down 0.3% from prior year, with net earnings of $2.8 billion. Personal Systems revenue increased 1.4% to $36.2 billion driven by Commercial PC market recovery, while Printing revenue declined 3.8% to $17.3 billion amid continued industry-wide demand softness. Gross margin improved 0.7 percentage points to 22.1% due to lower supply chain costs and transformation savings.The company continued executing its Future Ready transformation plan announced in 2022, accelerating digital capabilities and portfolio optimization while reducing structural costs. HP maintained strong cash generation with $3.7 billion in operating cash flow and returned $3.2 billion to shareholders through $2.1 billion in share repurchases and $1.1 billion in dividends. The Board increased share repurchase authorization to $10 billion.HP disclosed a material weakness in IT controls affecting financial reporting systems, though no material misstatements resulted. Looking ahead, the company is focused on driving innovation in AI PCs and intelligent printing solutions while managing ongoing macroeconomic uncertainties and competitive pressures. Management remains committed to the transformation strategy targeting operational efficiency and growth opportunities in key markets.

HP Inc. reported fiscal year 2024 net revenue of $53.6 billion, down 0.3% from prior year, with net earnings of $2.8 billion. Personal Systems revenue increased 1.4% to $36.2 billion driven by Commercial PC market recovery, while Printing revenue declined 3.8% to $17.3 billion amid continued industry-wide demand softness. Gross margin improved 0.7 percentage points to 22.1% due to lower supply chain costs and transformation savings.The company continued executing its Future Ready transformation plan announced in 2022, accelerating digital capabilities and portfolio optimization while reducing structural costs. HP maintained strong cash generation with $3.7 billion in operating cash flow and returned $3.2 billion to shareholders through $2.1 billion in share repurchases and $1.1 billion in dividends. The Board increased share repurchase authorization to $10 billion.HP disclosed a material weakness in IT controls affecting financial reporting systems, though no material misstatements resulted. Looking ahead, the company is focused on driving innovation in AI PCs and intelligent printing solutions while managing ongoing macroeconomic uncertainties and competitive pressures. Management remains committed to the transformation strategy targeting operational efficiency and growth opportunities in key markets.