HP INC Reports Earnings Results for FY2023 Q3, as of July 31 2023, on August 29 2023
September 2, 2023
🌥️Earnings Overview
HP INC ($NYSE:HPQ) revealed its financial performance for the third quarter of FY2023, ending July 31 2023, on August 29 2023. The firm recorded a total revenue of USD 13.2 billion, a decrease of 10.0% year-on-year. This was accompanied by a 31.2% reduction in net income compared to the same period in the previous year, amounting to USD 0.77 billion.
Stock Price
On August 29, 2023, HP INC reported its earnings results for the third quarter of FY2023, ending July 31, 2023. On Tuesday, the stock opened at $31.4 and closed at the same price, up by 0.1% from the previous closing price of $31.3. The financial results revealed that HP INC had experienced increases in both sales and net income compared to the previous year. The strong financial performance can be attributed to HP INC’s strategic focus on innovation, cost-efficiency, and customer experience.
This has enabled the company to remain competitive in a fast-changing marketplace and capture an increasing share of the global market. Overall, HP INC’s financial results for the third quarter reflect the company’s ongoing success and ability to deliver value to shareholders. The stock’s 0.1% gain is a positive sign for investors, indicating that HP INC is well-positioned for continued growth in the coming months. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Hp Inc. More…
| Total Revenues | Net Income | Net Margin |
| 54.7k | 2.29k | 5.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Hp Inc. More…
| Operations | Investing | Financing |
| 3.5k | -3.45k | -3.72k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Hp Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 36.63k | 38.88k | -2.28 |
Key Ratios Snapshot
Some of the financial key ratios for Hp Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -1.2% | 4.7% | 7.1% |
| FCF Margin | ROE | ROA |
| 5.3% | -102.2% | 6.6% |
Analysis
At GoodWhale, we conducted an analysis of HP INC‘s fundamentals to provide risk-averse investors with a detailed risk rating. Our assessment of HP INC’s financial and business aspects revealed that it is a medium risk investment. To help you further understand the investment risks associated with HP INC, we recommend that you log onto GoodWhale.com. Here, you can access detailed analyses of their business and financial areas, where potential risks have been identified. By gaining an understanding of the risks associated with HP INC, you can make an informed decision about your investment. More…
Peers
Its main competitors are Stratasys Ltd, Kinpo Electronics Inc, and AstroNova Inc. HP Inc has a strong market share and brand recognition, and is a reliable and innovative company.
– Stratasys Ltd ($NASDAQ:SSYS)
Stratasys Ltd is a 3D printing company that provides additive manufacturing solutions to customers in a variety of industries, including healthcare, aerospace, automotive, and consumer products. The company has a market cap of $898.47 million and a return on equity of -5.22%. Stratasys is headquartered in Eden Prairie, Minnesota.
– Kinpo Electronics Inc ($TWSE:2312)
Kinpo Electronics is a Taiwanese electronics manufacturer. The company has a market cap of 20.65 billion as of 2022 and a return on equity of 8.34%. The company manufactures electronics products for a variety of brands, including Canon, Nikon, and Sony.
– AstroNova Inc ($NASDAQ:ALOT)
AstroNova Inc is a publicly traded company with a market capitalization of $85.59 million as of 2022. The company’s return on equity (ROE) for the same year was 0.7%. AstroNova Inc is engaged in the design, manufacture, and marketing of a broad range of specialty printers, and data acquisition and analysis systems. The company’s products are used in a range of applications, including aerospace, test and measurement, medical, and industrial.
Summary
HP Inc. reported a 10.0% decline in total revenue for Q3 2023 to $13.2 billion compared to the same period last year, and a 31.2% decrease in net income to $0.77 billion. This suggests a weak quarter for the company, with investors likely concerned about the impact of the pandemic and other external factors on its future business performance. Investors should watch out for any additional guidance from the company to better assess how HP Inc. is navigating this challenging business environment and what potential growth opportunities are available.
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