HP said total net revenue for fiscal 2024 decreased 0.3% (decreased 0.2% on a constant currency basis) from the prior year. Personal Systems net revenue increased 1.4%, while Printing net revenue decreased 3.8%.

10-KAnnual reportFiled Dec 13, 2024Period of report Oct 31, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

HP said total net revenue for fiscal 2024 decreased 0.3% (decreased 0.2% on a constant currency basis) from the prior year. Personal Systems net revenue increased 1.4%, while Printing net revenue decreased 3.8%.
The company said gross margin for fiscal 2024 increased 0.7 percentage points, citing lower supply chain costs in products gross margin and Future Ready transformation savings as factors. SG&A expense increased 5.6%, and the company attributed this to higher litigation costs and go-to-market initiatives.
The company said it returned a total of $3.2 billion to shareholders in fiscal 2024, including share repurchases of $2.1 billion and cash dividends of $1.1 billion. As of October 31, 2024, the remaining share repurchase authorization was approximately $9.3 billion.
HP said short-term debt increased $1.2 billion and long-term debt decreased $1.0 billion in fiscal 2024, reflecting the reclassification to short-term of Global Notes maturing in June 2025, the company explained. As of October 31, 2024, it had $5.0 billion sustainability-linked revolving credit facility maturing on August 1, 2029.

Key figures

Fiscal year ended October 31, 2024

Revenue: $53.6B
Operating income: $3.8B
Net income: $2.8B
EPS: $2.81
Gross profit: $11.8B
Operating cash flow: $3.7B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Modest Annual Net Revenue Decline and Segment Trends

HP said total net revenue for fiscal 2024 decreased 0.3% (decreased 0.2% on a constant currency basis) from the prior year. Personal Systems net revenue increased 1.4%, while Printing net revenue decreased 3.8%.

Source · Based on the MD&A text of the filing

Gross Margin Up 0.7 percentage points as Operating Expenses Rise

The company said gross margin for fiscal 2024 increased 0.7 percentage points, citing lower supply chain costs in products gross margin and Future Ready transformation savings as factors. SG&A expense increased 5.6%, and the company attributed this to higher litigation costs and go-to-market initiatives.

Source · Based on the MD&A text of the filing

Shareholder Returns 3.2 billion and Remaining Repurchase Authorization

The company said it returned a total of $3.2 billion to shareholders in fiscal 2024, including share repurchases of $2.1 billion and cash dividends of $1.1 billion. As of October 31, 2024, the remaining share repurchase authorization was approximately $9.3 billion.

Source · Based on the MD&A text of the filing

Changes in Short- and Long-Term Debt and 5.0 billion Credit Facility

HP said short-term debt increased $1.2 billion and long-term debt decreased $1.0 billion in fiscal 2024, reflecting the reclassification to short-term of Global Notes maturing in June 2025, the company explained. As of October 31, 2024, it had $5.0 billion sustainability-linked revolving credit facility maturing on August 1, 2029.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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