The company reported fourth quarter revenue of $16.7 billion, up 9.3% from a year ago, with earnings of $3.1 billion, or $2.71 a share. Non-GAAP earnings for the fourth quarter were 94 cents a share. Wall Street was expecting HP to report fourth quarter revenue of $15.4 billion with non-GAAP earnings of 88 cents a share. For fiscal 2021, HP delivered revenue of $63.5 billion, up 12.1% from the previous year, with earnings of $6.5 billion, or $5.33 a share. CEO Enrique Lores said HP saw strong demand in the fourth quarter and is well positioned with its portfolio of hardware, software, and subscriptions. HP recently outlined its multi-year growth plans at an investor meeting. On a conference call with analysts, Lores said: PC sales drove HP’s results. Personal systems revenue in the fourth quarter was $11.8 billion, up 13%. Consumer PC sales fell 3% in the quarter, and commercial revenue surged 25%. Total units fell 9% in the fourth quarter. Lores added: For the printing business, HP delivered revenue of $4.9 billion, up 1% from a year ago. Both consumer and commercial units fell double digits. As for the outlook, HP projected first quarter non-GAAP earnings of 99 cents a share to $1.05 a share. Wall Street was looking for first quarter non-GAAP earnings of 94 cents a share. For fiscal 2022, HP projected non-GAAP earnings between $4.07 a share and $4.27 a share. HP is projecting fiscal 2022 cash flow of at least $4.5 billion.
