HP Inc on Tuesday forecast fiscal 2024 earnings largely in line with estimates and raised its annual dividend, reflecting stabilizing demand in the personal computers market.
Companies such as HP, Lenovo and Dell Technologies have seen demand ease from peaks hit during the pandemic, when work-from-home trends drove up sales of laptops and other electronic devices.
Shares of Palo Alto, California-based HP were up more than 2% in trading after the bell. They have fallen roughly 2% so far this year.
The PC maker also forecast fiscal 2024 free cash flow of $3.1 billion to $3.6 billion and expects to return about 100% of it to shareholders through dividends and share repurchases.
“Our Future Ready plan is strengthening our core business, accelerating our expansion in services, building new operational capabilities, and improving our structural costs,” said HP CEO Enrique Lores.
The board has approved an increase to the planned dividend amount to $1.10 per share, reflecting a 5% increase from the prior dividend, the company said.
The company expects its 2024 adjusted earnings in the range of $3.25 to $3.65 per share, largely in line with analyst estimates of $3.47, according to LSEG data.
Source : Reuters
Experts say $200bln bond-buying effort unlikely to significantly lower housing costs. There's scant evidence so…
That has helped at least to put a floor under euro zone bond prices. Euro…
Bank profitability will remain strong this year despite lower interest rates, says S&P. Saudi banks…
The 2026 review of the EU ETS must be anchored in facts and focus on…
Federal Open Market Committee statements typically sound unanimous, but the Committee’s internal debates rarely are.…
Local responses to gender-based violence, with femicide as its most extreme form, remain uneven across…