Welcome to our dedicated page for HP news (Ticker: HPQ), a resource for investors and traders seeking the latest updates and insights on HP stock.
HP Inc. (HPQ) reports developments across its personal systems and printing businesses, with recurring updates on fiscal results, commercial PCs, workstations, printers, gaming hardware, workplace software, and security capabilities. The company’s news frequently covers AI-enabled HP EliteBook, ProBook, EliteDesk, and HP Z devices, LaserJet products, HP Wolf Security and TPM Guard protections, and enterprise management through the HP Workforce Experience Platform.
Product announcements also include HyperX and OMEN gaming desktops, controllers, headsets, software, and performance-tuning tools. Financial news centers on earnings releases, capital returns, operating performance, and governance changes tied to HP’s global PC and printing operations.
HP (NYSE: HPQ) reported its fiscal Q3 2020 results with a net revenue of $14.3 billion, a 2.1% decline year-over-year. GAAP diluted EPS was $0.52, down 33.3% from $0.78 in Q3 FY19, but above the forecast of $0.35 to $0.41. Non-GAAP diluted EPS also fell to $0.49 from $0.58, exceeding the expected range of $0.39 to $0.45. HP returned $1.2 billion to shareholders through share repurchases and dividends, with a strong cash flow of $1.6 billion. The outlook for Q4 estimates GAAP diluted EPS between $0.32 to $0.36.
HP Inc. (NYSE: HPQ) will host a live audio webcast on August 27, 2020, at 4:30 p.m. ET to discuss its financial results for the third fiscal quarter ended July 31, 2020. Interested parties can access the webcast at www.hp.com/investor/2020Q3Webcast, and a replay will be available for one year post-call.
HP Inc. focuses on creating technology that enhances life through its diverse range of products and services, including personal systems and 3D printing solutions.
HP Inc. has launched new Managed Print Cloud Services to facilitate companies' transition to cloud-based environments, enhancing flexibility and control over printing. This service provides a cloud-based print environment tailored to clients, integrating with Universal Print from Microsoft 365. Additionally, a revamped Flexworker Solutions program has been introduced, allowing remote workers to easily obtain printers and supplies through an online portal. This initiative aims to streamline IT processes, improve security, and potentially reduce costs for organizations.
HP Inc. introduced a suite of remote work offerings to assist partners in modernizing infrastructure and transitioning to cloud solutions. Key features include HP Advance, an integrated platform for managing print services, and HP Command Center, a tool for remote fleet management. New enhancements such as touch-free printing and HP Instant Ink subscriptions are designed to boost productivity for distributed workforces. The drive towards automation and adaptability was emphasized as companies adapt to new work environments.
HP Inc. has launched HP Amplify, a new global channel partner program set to start on November 1, 2020, aimed at enhancing partner growth and improving customer experiences. The program simplifies access to tools and rewards partners for their performance, with two distinct tracks: Synergy and Power. HP Amplify focuses on digital transformation, offering data-driven insights and collaboration tools. Additionally, it promotes sustainability through the HP Amplify Impact initiative, which emphasizes a commitment to a low-carbon economy and community support.
HP Inc. (HPQ) has deployed its D300e BioPrinters to four major research facilities in the U.S. and Europe at no cost, aiming to boost drug and vaccine research against COVID-19. The facilities include the Spanish National Research Council, University of Houston's CNRCS, Fondazione Toscana Life Sciences, and Grenoble Alpes University Hospital. This initiative is part of HP's broader commitment, which includes $8 million in technology and grants to support COVID-19 relief efforts. The BioPrinters facilitate the precise dispensing of pharmaceutical samples and are expected to enhance research efficiency.
The Board of Directors of HP Inc. (NYSE: HPQ) has approved the acceleration of the expiration date for its shareholder rights plan, terminating it as of June 25, 2020. This plan was initially set to expire on February 20, 2021. Chair Chip Bergh stated that the termination aligns with HP's current corporate governance practices, noting that there is no longer a threat of a hostile tender offer against the company. The board concluded that maintaining the plan was no longer appropriate.
The HP Inc. board has declared a cash dividend of $0.1762 per share on its common stock. This marks the fourth dividend for fiscal year 2020. The payment will be made on October 7, 2020, to shareholders on record as of September 9, 2020. HP has around 1.4 billion shares of common stock outstanding, reflecting ongoing shareholder returns and financial stability.
HP Inc. reported significant progress in its sustainability initiatives, driving over $1.6 billion in new sales in FY19, a 69% increase from the previous year. The company advanced its diversity agenda with 63% of U.S. hires from underrepresented groups and a commitment to double the number of Black executives by 2025. $698 million was generated through its Supplier Diversity Program. Additionally, HP pledged to eliminate 75% of plastic packaging by 2025 and expanded its Sustainable Forests Collaborative, reflecting a strong commitment to environmental justice and corporate responsibility.
HP Inc. (NYSE: HPQ) announced the redemption of all remaining Global Notes, totaling approximately $867.5 million, on July 22, 2020. This includes $472.3 million of 3.750% Notes due December 1, 2020, and $395.2 million of 4.300% Notes due June 1, 2021. Notices will be sent by The Bank of New York Mellon Trust Company. This move is part of HP's strategy to strengthen its balance sheet, which includes a recent $3 billion public offering of senior unsecured notes and the establishment of a new $1 billion revolving credit facility. The actions aim to enhance financial flexibility and support future investments.