HP Inc. Reports Fiscal 2023 Full Year and Fourth Quarter Results

HP INC. AND SUBSIDIARIES
CONSOLIDATED CONDENSED STATEMENTS OF EARNINGS
(Unaudited)
(In millions, except per share amounts)
 
  Twelve months ended
  October 31, 2023  October 31, 2022
Net revenue$53,718  $62,910
Costs and expenses:   
Cost of revenue 42,210   50,647
Research and development 1,578   1,653
Selling, general and administrative 5,357   5,264
Restructuring and other charges 527   218
Acquisition and divestiture charges 240   318
Amortization of intangible assets 350   228
Russia exit charges    23
Total costs and expenses 50,262   58,351
Earnings from operations   3,456       4,559
Interest and other, net   (519)       (235)
Earnings before taxes   2,937       4,324
Benefit from (provision for) taxes   326       (1,192)
Net earnings $ 3,263     $ 3,132
       
Net earnings per share:      
Basic $ 3.29     $ 3.02
Diluted $ 3.26     $ 2.98
       
Cash dividends declared per share $ 1.05     $ 1.00
       
Weighted-average shares used to compute net earnings per share:      
Basic   992       1,038
Diluted   1,000       1,050
             

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