HP Inc. (HPQ), a company providing personal computing and other access devices, imaging and printing products, and related technologies, is changing hands at $34.60 in aftermarket trading session after surging 7.49%. The increase could be attributed to the announcement of quarterly results by the company. HPQ stock closed Tuesday’s regular trading session at $32.19 after gaining an increase of 0.81%.
Why HPQ on Rise?
On Tuesday, HPQ announced the financial results for the fourth quarter of the fiscal year 2021. The quarter ended on 31st October 2021. The company generated net revenue of $16.67 billion during the quarter against $15.25 billion for the same quarter of 2020. The total costs and expenses bore by the company during the quarter were $15.43 billion against $14.26 billion for the same quarter of 2020. The net income generated by the company during the three months was $3.09 billion against $1.10 billion for the same period of 2020. The net earnings per basic and diluted share for the quarter were $2.75 and $2.71 against $0.50 and $0.49 for the same quarter of 2020.
Outlook for Fiscal 2022
HPQ also released the outlook for the upcoming quarter and fiscal alongside the financial results. The company estimated that for fiscal 2022, the GAAP diluted net EPS to be in the range of $0.99 to $1.05. The GAAP diluted net EPS for fiscal 2022 was estimated to be in the range of $4.07 to $4.27. The company anticipates that it could generate a net cash flow of $4.5 billion (minimum) during fiscal 2022.
Enrique Lores, CEO of HPQ, while commenting on the results said that the results depict a strong performance throughout the quarter and year by the company. He further said that the outstanding results depict the working environment of the company, which prefers cooperation instead of competition. He hoped that the company would be able to reproduce similar, or even better, results during the upcoming fiscal year.
What Lies Ahead for HPQ?
Stats reveal that HPQ stock has mostly seen positive times during the last 12 months. The prime reason for that is the market reputation of the company as among the best developers of computing devices. Analysts believe that the stock is well on track to achieve similar performance in the future to come.