HP Inc. (NYSE: HPQ) reported its third quarter 2024 earnings results today.
Net revenues increased 2.4% year-over-year to $13.5 billion, beating expectations of $13.4 billion.
GAAP net earnings decreased 16% to $640 million and EPS fell 14% to $0.65 compared to last year. Adjusted EPS dropped 3% to $0.83, missing estimates of $0.86.
For the fourth quarter of 2024, HP expects GAAP EPS of $0.74-0.84 and adjusted EPS of $0.89-0.99.
For fiscal year 2024, GAAP EPS is expected to be $2.62-2.72 and adjusted EPS is expected to be $3.35-3.45.
The stock dropped over 2% in aftermarket hours on Wednesday, following the earnings announcement.