HP reports Q4 revenue down 6.5% YoY to $13.8B, vs. $13.8B est., Personal Systems revenue down 8% YoY to $9.4B, and Printing revenue down 3% YoY to $4.4B hp筆電收購

hp筆電收購
roduce its first AI-powered PCs in the second half of 2024.

“It was a tough year… but we are on track to deliver AI PCs next year [in the second half of 2024] that should be a catalyst for PC expansion,” hp筆電收購hp Chief Executive Enrique Lores said in an interview. He said the company has not seen any impact on holiday sales from the conflict in the Middle East.

“We are optimistic” about AI boosting personal-system sales in 2024 and beyond amid progress in cost reductions, he added.

For the first quarter, hp筆電收購hp (hp筆電收購hpQ) offered cautious guidance for adjusted earnings of 76 cents to 86 cents a share; analysts polled by FactSet are forecasting 86 cents a share.

The venerable Silicon Valley giant that started in a garage posted fiscal fourth-quarter net earnings of $900 million, or 90 cents a share, compared with net earnings of $800 million, or 82 cents a share, in the year-ago quarter. Adjusted earnings were 97 cents a share.

Net revenue tumbled 6.5% to $13.8 billion from $14.8 billion a year ago.

Personal systems net revenue declined 8% to $9.4 billion from the same quarter a year earlier. Printing revenue dipped 3% to $4.4 million, year-over-year.

Analysts surveyed by FactSet had expected on average net earnings of 90 cents a share on revenue of $13.8 billion.

Shares of hp筆電收購hp are up more than 3% this year, while the S&P 500 index SPX has improved 18%.

“Make no mistake that the street should be and will be listening for what Lores has to say about the AI PC and how hp筆電收購hp stands to take an outsized share of this opportunity,” analyst Daniel Newman, CEO of the Futurum Group, said in a message.

“Based upon its broad design portfolio across Intel (INTC) and Arm-based SKUs, hp筆電收購hp is well-positioned to compete in what I think it is going to be the [second-half] story of 2024” for PCs, Newman added.

-Jon Swartz

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11-21-23 1621ET

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