Wednesday, 05 Dec 2018 11:24 GMT

HP reports revenue increase

HP has reported an increase in both its fiscal full year and Q4 results, with the last quarter showing a net revenue of $15.4bn (£12.09bn), up 10 percent from Q4 in 2017.

The manufacturer’s net revenue grew from $52.1bn (£40.9) to $58.5bn (£45.9bn) in the last year, whilst the results from the last quarter show an increase of 10 percent from the prior year, from $13.9bn (£10.9bn) to $15.4bn (£12.1bn).

Year-on-year, the firm’s results show a 22 percent increase on its non-GAAP (Generally Accepted Accounting Principles) diluted net earnings per share to $2.02.

“Our results once again demonstrate HP’s consistent performance with full year non-GAAP EPS growth of 22% year over year and free cash flow generation of $4.2 billion,” says Dion Weisler, president and CEO at HP. “These results reflect our continued innovation across the portfolio and sharp execution across segments and regions as we position HP for continued long-term sustainable growth.”

These results reflect our continued innovation across the portfolio and sharp execution across segments

HP’s printing sector saw a 9.1 percent growth for Q4 compared to the previous year, and a 11.1 percent increase on its year-on-year results. The printing sector accounts for 70 percent of the firm’s total operating profit, which covers print supplies, commercial print and consumer print. 

HP left the quarter with $5.9bn in gross cash, including short-term investments of $0.7bn included in other current assets.

The firm made strides in print this year with the release of the Latex R series and has moved into mass 3D print manufacturing with updates to its Jet Fusion 3D printing technology.

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