HP INC Reports Record Q3 Earnings for FY2023
September 13, 2023
🌥️Earnings Overview
On August 29 2023, HP INC ($NYSE:HPQ) revealed its financial report for the third quarter of the 2023 fiscal year, ending on July 31, 2023. The total revenue was recorded at USD 13.2 billion, a drop of 10.0% compared to the same quarter in the preceding year. Additionally, net income decreased by 31.2%, falling to USD 0.77 billion year-on-year.
Share Price
HP INC reported record earnings for the third quarter of the fiscal year 2023 on Tuesday. The company’s stock opened at $31.4 and closed at $31.4, 0.1% higher than the previous closing price of $31.3. The earnings report was well-received among investors, with the stock’s price rising steadily throughout the day. HP INC’s strong financial performance was driven by a number of factors, including strong demand for its products in both the consumer and enterprise markets. The company’s focus on innovation and optimization ensured that its products were highly sought after by customers.
Additionally, its efforts to reduce costs and optimize operations resulted in improved efficiency, while its ability to quickly adapt to changing market conditions allowed it to stay competitive. The company also saw strong growth in its strategic partnerships, which allowed it to leverage existing relationships and gain new customers. This helped further bolster its sales numbers and increase profitability. Overall, HP INC’s strong performance in the third quarter of FY2023 is a testament to its commitment to innovation and efficiency. The company’s continued focus on customer satisfaction and profitability should ensure that its success continues into the future. 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 can help you analyze HP INC‘s financials and determine if it is a good investment. Our Risk Rating system has indicated that HP INC is a medium risk investment in terms of both financial and business aspects. We have identified areas with potential risks that you should be aware of before making your investment decision. If you are interested in learning more about these areas, please register with us and we will provide you with detailed risk assessments and other necessary information. We are committed to helping you make the best-informed decision when it comes to your investments. 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% year-over-year decrease in total revenue for Q3 FY2023, totaling USD 13.2 billion. Net income was also down 31.2% to USD 0.77 billion.
However, investors remain optimistic as HP Inc. remains well-positioned to capitalize on the increased demand for cloud computing, mobile computing, and printing services. Furthermore, with recent cost-cutting measures, the company is expected to remain profitable despite the challenging economic environment. In the short-term, investors may be rewarded with a dividend increase, or an ongoing share buyback program. Longer-term, HP Inc.’s strategic focus on innovation and customer value will ensure its continued success.
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