HP told about losses from leaving Russia

HP Electronics disclosed its losses as a result of leaving the Russian market after Western countries imposed sanctions against Moscow for conducting a special operation in Ukraine.

According to this American company, for fiscal year 2022, the manufacturer of personal computers, laptops and printers lost 1.4 billion rubles ($23 million) as a result of leaving Russia.

This amount includes severance pay for employees working in Russia, termination of the contract, write-off of inventory items and other expenses associated with departure.

According to the financial report, net revenue of HP Electronics for the fiscal year ended October 31, 2022 was about $63 billion, down 0.8% year-on-year. Net income halved to $3.2 billion.

Source: TASS

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