The manufacturer recorded revenue of $53.6bn (£42.5bn) for the 12-month period ended 31 October 2024, down 0.3% (or down 0.2% in constant currency) from the prior-year period.

Fourth quarter revenue was $14.1bn – up 1.7% (or up by 2.3% in constant currency) from the prior-year period.

Revenue in the firm’s Printing division in Q4 was $4.5bn, up 1% year-over-year (or up 2% in constant currency).

Consumer printing revenue was up 3% and commercial printing net revenue was down 1%. Supplies revenue was up 2% (or up 3% in constant currency). Total hardware units were up 9.5%, with consumer printing units up 10% and commercial printing units up 9%.

Full-year revenue in the printing division was $17.3bn, down 4% year-on-year, with commercial printing down 8% and consumer printing down 9%.

HP recorded revenue in its Personal Systems division of $9.6bn in Q4, up 2% year-on-year (and up by 3% in constant currency) with a 5.7% operating margin. For the full-year, personal systems revenue was up 1% to $36.2bn.

“We are pleased with our Q4 performance where we saw revenue growth for the second consecutive quarter, driven by steady progress in Personal Systems and Print,” said Enrique Lores, HP president and CEO.

“With momentum heading into FY25, we are well-positioned to capitalise on the commercial opportunity and lead the future of work.”

Printing segment profits were up by 4.5% year-on-year in Q4 from $836m to $874m, while profits in Personal Systems dropped by 12.8% year-on-year, from $631m to $550m.

For the full-year, Printing segment profits dropped by 3.2% compared to a year ago, from $3.4bn to $3.29bn, while profits in Personal Systems climbed by 3%, from $2.13bn to $2.19bn.

HP’s board of directors declared a quarterly cash dividend of $0.2894 per share on the company’s common stock, payable on 2 January 2025 to stockholders of record as of the close of business on 11 December 2024.

This is the first dividend of HP’s 2025 fiscal year and represents an increase of 5% from the prior dividend.