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HP: Net revenue growth overall

HP: Net revenue growth overall

November 24, 2021

In its fourth quarter and full year results, HP announced net revenues grew 12.1% year-on-year for fiscal year 2021 and 9.7% year-on-year in its fourth quarter.

Net revenue for the fiscal year 2021 was $63.5 billion (€56.6 billion), up 12.1% year-on year with 32% of the revenue attributable to HP’s printing segment. For the fourth quarter, net revenue was $16.7 billion (€14.9 billion), up 9.3% from the prior-year period.

“Our results reflect a growth-oriented company on its front foot and hitting its stride. We delivered a very strong quarter to close out an exceptional year of double-digit revenue, operating profit and EPS growth while returning record levels of capital to shareholders,” said Enrique Lores, HP President and CEO. “HP is at the heart of hybrid with an innovative portfolio of hardware, software and subscriptions that position the company well for sustained growth in fiscal year 2022 and beyond.”

In the fourth quarter, printing net revenue was $4.9 billion (€4.4 billion), up 1% year-over-year (flat in constant currency) with a 17.0% operating margin. Total hardware units were down 26% with consumer units down 28% and commercial units down 12%. Consumer net revenue was down 6% and commercial net revenue was up 19%. Supplies net revenue was down 2%.

Categories : City News

Tags : Business Financials HP Inc OEM

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