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.

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.