HP Inc. (HPQ) shares jumped 7.52% in after-hours on Tuesday, November 23, 2021, and closed the daily trading at $34.61. Even in regular trading, HPQ’s stock gained 0.81%. HPQ shares have risen 51.91% over the last 12 months, and they have moved up 3.14% in the past week. Over the past three months, the stock has surged 9.53%, while over the past six months, it has gained 0.06%.
Let’s have a brief look at its recent news and developments.
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HPQ latest news
On November 23, 2021, HP Inc. (HPQ) announced its financial results for the fiscal fourth quarter and fiscal 2021 which ended on October 31, 2021.
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Q4 2021 financial highlights
- HPQ reported fourth-quarter net revenue of $16.7 billion compared to $15.3 billion in Q4 2020.
- Total cost and expenses were $15.4 billion in Q4 2021 compared to $14.3 billion in Q4 2020.
- It earned a net income of $3.09 billion in Q4 2021 compared to $668 million in Q4 2020.
- GAAP diluted earning per share was $2.71 in Q4 2021 compared to $0.49 in Q4 2020.
FY 2021 financial highlights
- Fiscal 2021 net revenue was $63.5 billion compared to $56.6 billion in FY 2020.
- Total cost and expenses were $58.18 billion in FY 2021 compared to $53.17 billion in FY 2020.
- It earned a net income of $6.5 billion in FY 2021 compared to $2.84 billion in FY 2020.
- GAAP diluted earnings per share were $5.33 in FY 2021 compared to $2.00 in FY 2020.
FY 2022 financial outlook
- For Q1 2022, HP is expecting, GAAP diluted net EPS to be in the range of $0.92 to $0.98.
- For FY 2022, HP is expecting, GAAP diluted net earnings per share to be in the range of $3.86 to $4.06 and Free cash flow of at least $4.5 billion.
HPQ & IWCO agreement
On November 22, 2021, HP Inc. (HPQ) and IWCO Direct announced a strategic agreement for the supply of a fleet of HP PageWide Web Presses to drive the market for data-driven marketing communications solutions.
IWCO Direct will do a multi-million-dollar investment in seven high-volume HP PageWide Web Presses to grow their performance marketing business using primarily HP digital printing by 2023.
HPQ new appointment
On November 17, 2021, HP Inc. (HPQ) appointed Kim K.W. Rucker to its board of directors. Rucker is the former executive vice president, general counsel, and secretary of Andeavor, which was acquired by Marathon Petroleum in 2018.
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Conclusion
The recent FY 2021 financial results which beat the analyst estimates were the reason behind its top-notch performance on Tuesday and it can continue to climb up on Wednesday as well.