HP profit for the I-III quarters of 2021-2022 financial year decreased by 6%

MOSCOW, 31 Aug – PRIME. The net profit of the American company HP Inc for the first three quarters of the 2021-2022 fiscal year, which ended on July 31, amounted to $ 3.205 billion, which is 5.8% lower than a year ago, the company said in a statement.

On a per share basis, diluted earnings for the reporting period were $3.01 compared to $2.73 for the same period last fiscal year. The company’s revenue for the period increased by 2.9% to $48.182 billion.

The company’s net profit for the last quarter of the current financial year increased by 1% to $1.119 billion. On a per-share basis, diluted earnings were $1.08, up from $0.92 a year earlier. The adjusted figure reached $1.04, in line with analysts’ forecasts. The company’s revenue for the quarter decreased by 4.1% and amounted to 14.664 billion dollars. At the same time, analysts expected revenue at the level of 15.69 billion dollars.

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For the current quarter of the financial year, the company forecasts diluted net income per share in the range of 0.44-0.54 dollars, and for the year – 3.46-3.56 dollars, a quarter earlier the forecast was 3.79-3. 93 dollars.

After the release of these data, the company’s shares in the preliminary stock exchange trades become cheaper by more than 6%.

HP Inc is an American IT company established in 2015 as part of the division of Hewlett-Packard. In November 2014, Hewlett-Packard announced that it would split into two companies to maintain competitiveness. Technology infrastructure, software, and services are merged into Hewlett-Packard Enterprise Co., and personal computing and printing products are merged into HP Inc.

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