HPQ Stock Recent News

While the top- and bottom-line numbers for HP (HPQ) give a sense of how the business performed in the quarter ended July 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

HP's Q3 results reflect the negative impacts of rising commodity costs, competitive pressure and weakness of its business in China.

HP Inc (NYSE:HPQ) shares started trading lower on Thursday after a mixed showing in its third-quarter results. Revenue increased 2.4% year-over-year, to $13.52 billion, compared to a consensus Wall Street forecast of  $13.37 billion.

This was the first earnings report since HP started shipping AI PCs in June.

HP Inc. (NYSE:HPQ ) Q3 2024 Earnings Conference Call August 28, 2024 5:00 PM ET Company Participants Orit Keinan-Nahon - Head of Investor Relations Enrique Lores - President and Chief Executive Officer Karen Parkhill - Chief Financial Officer Tim Brown - Interim Chief Financial Officer Conference Call Participants Samik Chatterjee - JPMorgan Erik Woodring - Morgan Stanley Toni Sacconaghi - Bernstein Research Wamsi Mohan - Bank of America Michael Ng - Goldman Sachs Irvin Liu - Evercore ISI Steven Chin - TD Cowen Operator Hello. Good day, everyone, and welcome to the Third Quarter 2024 HP Inc. Earnings Conference Call.

HP (HPQ) came out with quarterly earnings of $0.83 per share, missing the Zacks Consensus Estimate of $0.86 per share. This compares to earnings of $0.86 per share a year ago.

HP Inc beat Wall Street estimates for third-quarter revenue on Wednesday, marking its first quarter of revenue growth after eight consecutive quarters of decline.

The US Commerce Department announced plans to award $50 million to HP Inc (NYSE:HPQ) for the expansion and modernization of its Oregon facility. Reports suggest the investment will enhance key semiconductor technologies, particularly in life sciences instrumentation and AI hardware, and supports HP's work in microfluidics and microelectromechanical systems, crucial for manufacturing silicon devices used in drug discovery and cell research.

The U.S. Commerce Department said Tuesday it plans to award $50 million to HP to support the expansion and modernization of an existing company facility in Oregon that will boost key semiconductor technologies.

HP's (HPQ) fiscal Q3 results are likely to be hurt by a volatile external environment and protracted inflationary conditions that are affecting demand for PCs.