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HP Says Quarterly Revenue Rose

By SME Media Staff

HP Inc., a major player in additive manufacturing, said Feb. 28 its first-quarter fiscal 2022 revenue rose 8.8 percent.

The Palo Alto, Calif.-based company said its quarterly revenue totaled $17 billion for the three months ended Jan. 31. That compares with $15.6 billion a year earlier.

HP posted a profit of $1.1 billion, or 99 cents a share. That compares with about the same amount on a dollar basis or 83 cents a share.

“Our Q1 performance was particularly strong across our key growth areas that collectively grew double digits including gaming, peripherals, workforce solutions, consumer subscriptions, and industrial graphics and 3D,” Enrique Lores, HP president and CEO,” said in a statement. “Our performance reflects progress against our strategy to build a stronger HP.”

HP forecast that it expects fiscal second-quarter 2022 earnings per share of 95 cents to $1.01 a share.

The company updated its full-year fiscal 2022 forecast to $3.87 to $4.07 a share.

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