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San Diego
Wednesday, May 22, 2024
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Hewlett-Packard Revenue, Earnings Tick Up

Hewlett-Packard Co. reported earnings of $966 million on net revenue of $21.57 billion for the quarter ended April 30. One year ago, the company reported earnings of $884 million on net revenue of $20.11 billion.

The company’s Imaging and Printing Group, which has significant operations in San Diego County, had revenue of $6.39 billion in the recently completed quarter, up from $6.1 billion in the year-ago quarter.

HP reported $71 million in charges related to Imaging and Printing, reflecting “work-force reduction costs, hardware pricing actions, hardware growth and mix shifts within supplies.”

Revenue from printer supplies increased 4 percent compared with the year-ago quarter to $3.59 billion.

HP announced its earnings after its stock closed at $21.55 on May 17.

Company stock was trading at $22.28 at 7:38 a.m. May 18.

Brad Graves

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