The company said net revenues grew 7% in Q4 to $10.8 billion, and full-year net revenues grew 6% to $45.8 billion. Operating income 10% in Q4 and 4% for the full year, and organic revenues (non-GAAP) grew 12% for the full year.

1. 01

   The company said net revenues grew 7% in Q4 to $10.8 billion, and full-year net revenues grew 6% to $45.8 billion. Operating income 10% in Q4 and 4% for the full year, and organic revenues (non-GAAP) grew 12% for the full year.

2. 02

   The company said EPS declined 2% to $0.46 in Q4, while comparable EPS (non-GAAP) grew 10% to $0.49. For the full year, EPS grew 13% to $2.47 and comparable EPS (non-GAAP) grew 8% to $2.69. It said EPS included the impact of a 14-point currency headwind in Q4 and a 8-point currency headwind for the full year.

3. 03

   The company said cash flow from operations for the full year was $11.6 billion and free cash flow (non-GAAP) was $9.7 billion. It said capital expenditures in 2023 were $1.9 billion, dividend payments were $8.0 billion and share repurchases were $2.3 billion.

4. 04

   The company expects organic revenue (non-GAAP) growth of 6% to 7% in 2024 and comparable EPS (non-GAAP) growth of 4% to 5% versus $2.69 in 2023, the company said. It also expects free cash flow (non-GAAP) of about $9.2 billion, calculated as cash flow from operations of about $11.4 billion less capital expenditures of about $2.2 billion, it explained.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the opening part of the filing body and confirmed exhibits, within a length limit. This is not a review of other exhibits, investor presentations or the full earnings call.

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

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