The Strategist

HP's net profit jumps by 2.3 times in fiscal 2020-21

11/24/2021 - 08:39

US-based HP Inc reported net profit of $6.503 billion for fiscal year 2020-2021, up 2.3 times from the previous fiscal year, the company said on October 31.

Diluted net profit per share for the reporting period was $5.33, compared with $2 for the previous year. The company's revenues rose 12.1 percent to $63.487 billion for the fiscal year.

The company's net profit for the fourth quarter jumped 4.6 times to $3.099 billion. Diluted net income per share was $2.71 compared to $0.49 in the same period last year. The company's fourth-quarter revenue rose 9.2 per cent to $16.675 billion. Analysts had expected quarterly revenue of $15.42 billion.

The Personal Systems division, which accounts for about 68% of the company's revenue, rose 13% to $11.795 billion in the fourth quarter. The Printing (Printing Supplies) business grew 1% year on year to $4.879 billion.