HP Inc. (NYSE: HPQ) reported first quarter 2024 earnings results today.
Net revenue of $13.2 billion was down 4.4% from the same period a year ago.
GAAP net earnings were $622 million, or $0.62 per share, compared to $469 million, or $0.47 per share, last year. Adjusted EPS increased 11% to $0.81.
Revenue missed expectations while earnings came in line with estimates.
For the second quarter of 2024, HP expects GAAP EPS of $0.58-0.68 and adjusted EPS of $0.76-0.86. For fiscal year 2024, GAAP EPS is expected to be $2.61-3.01 and adjusted EPS is expected to be $3.25-3.65.
The stock fell over 3% in aftermarket hours on Wednesday, following the announcement.