The Strategist

HP profits for Q1-Q3 FY2021-2022 down 6%

08/31/2022 - 09:54

U.S. HP Inc. reported net income of $3.205 billion for the first three quarters of fiscal 2021–2022, which concluded on July 31. This is a 5.8% decrease from the same period last year.

Diluted earnings for the period were $3.01 on a per-share basis, up from $2.73 for the same period prior fiscal year. Revenue for the time period rose 2.9 percent to $48.182 billion for the corporation.

In the final quarter of the current fiscal year, the company's net income increased 1% to $1.119 billion. Diluted earnings were $1.08 per share, up from $0.92 in the prior year.

The adjusted earnings of $1.04 were in line with analyst expectations. The business's quarterly revenue dropped 4.1% to $14.664 billion. At the same time, analysts expected $15.69 billion in revenue.