HP 'on front foot and hitting its stride'

Jo Francis
Wednesday, November 24, 2021

HP’s share prices has jumped after the manufacturer’s results exceeded market expectations.

HP Indigo: Europe's first 6K Secure recently installed in UK
HP Indigo: Europe's first 6K Secure recently installed in UK

Filing its Q4 and results for the year ending 31 October, HP filed Q4 sales up 9.3% at $16.7bn (£12.5bn), and sales for the full year up 12.1% at $63.5bn.

Sales at its Printing division were up 14.1% at $20.13bn and the unit made an operating margin of 18.1% (2020: 14.1%). Personal Systems sales rose 11.2% to $43.36bn, with a 7.2% operating margin (2020: 5.9%).

Commercial printing (office printing solutions including commercial products and OEM hardware, graphics solutions and 3D printing and digital manufacturing, excluding supplies) sales accounted for 7% of turnover. 

Enrique Lores, HP President and CEO, commented: “Our results reflect a growth-oriented company on its front foot and hitting its stride. We delivered a very strong quarter to close out an exceptional year of double-digit revenue, operating profit and EPS growth while returning record levels of capital to shareholders.

“HP is at the heart of hybrid with an innovative portfolio of hardware, software and subscriptions that position the company well for sustained growth in fiscal year 2022 and beyond.”

HP’s share price rose by 5.34% to $33.99 in pre-market trading following the results announcement (52 week high: $36.00, low: $21.80).

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