Company Overview
HP Inc. is an American multinational information technology company headquartered in Palo Alto, California, that develops personal computers, printers, and related supplies, as well as 3D printing services. The company is the world's second-largest personal computer vendor by unit sales after Lenovo and ahead of Dell as of 2024. Operating in more than 170 countries, HP delivers a wide range of innovative and sustainable devices, services, and subscriptions for personal computing, printing, 3D printing, hybrid work, gaming, and more.
HP Inc.'s heritage traces back to the legendary founding of Hewlett-Packard in 1939, when Bill Hewlett and David Packard started their partnership in a one-car garage in Palo Alto, California, with their first product being an audio oscillator. This garage, now designated as a California Historical Landmark, represents the birthplace of Silicon Valley. The company grew to become an influential high-tech powerhouse known for its progressive business philosophy called the HP Way. On November 1, 2015, Hewlett-Packard split into two companies, with HP Inc. retaining the personal computer and printer businesses while Hewlett Packard Enterprise took the enterprise products and services division.
In fiscal year 2024, HP Inc. reported net revenue of $53.6 billion with GAAP diluted earnings per share of $2.81 and non-GAAP diluted EPS of $3.38. The company generated $3.7 billion in operating cash flow and $3.3 billion in free cash flow, while returning $3.2 billion to shareholders through share repurchases and dividends. HP Inc. employs close to 300,000 people worldwide and invests heavily in research and development, allocating $1.4 billion in fiscal year 2024 to drive innovation.
Under CEO Enrique Lores, who joined as an intern in 1989 and rose to the CEO position in November 2019, HP has spearheaded a bold strategy emphasizing a growth-oriented portfolio, digital transformation, and AI-powered experiences. The company unveiled the industry's largest portfolio of AI PCs in 2024, leveraging integrated Neural Processing Units (NPUs) to accelerate AI workloads locally on devices. HP is committed to sustainability, with 25% of plastic content in its products coming from recycled sources in 2024, and diversity leadership, maintaining the most diverse board of directors of any Fortune 100 company with 58% minorities, 42% women, and 33% underrepresented minorities.
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HP Inc. is recognized as a market leader in the Consumer Technology sector, demonstrating strong industry presence and customer trust.
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