HP Inc: net earnings 1998-2024
In the 2023 fiscal year, HP Inc reached net earnings of nearly 2.7 billion U.S. dollars, dowm from 3.2 billion U.S. dollars in 2023. In 2012, then HP Company’s net earning plummeted to negative 12.6 billion U.S. dollars, as the company began a drastic reshaping period whose results included a division into HP Inc and HP Enterprise Company.
Changing business model
In order to keep up with a shifting industry, HP Inc has renovated its business model into a flexible consumption model and positioned itself as the first company to offer a Device as a Service (DaaS) program. This emerging service model offers hardware to businesses on a monthly subscription basis. In 2019, HP Inc substantially expanded its business relationship with Xerox Corporation as partners with combined DaaS offerings.
HP Company changes with the times
HP Inc retains the Hewlett Packard Company’s personal computer and printer divisions, which have both see an increase in revenue over the last few years. As part of its push to remain a leader within the PC market, HP Inc acquired Samsung Electronics’ printer segment in 2017 for around 1 billion U.S. dollars and heavily invested in 3D printing technology and applications, a market that is projected to grow to around 4 billion U.S. dollars by 2026.
