A system and method for performance monitoring may use data collected from a hardware event agent comprising a hardware sampling mechanism and/or one or more hardware counters to increment one or more synthesized performance counters by an amount dependent on an expression involving the collected data. Each synthesized performance counter may be configured to count events of a different type and may comprise a machine addressable storage location. The event types may include various memory references or misses, branches, branch mispredictions, or any other event of interest in performance monitoring. The hardware event agent may comprise one or more instruction counters, cycle counters, timers, or other hardware performance counters. One hardware performance counter may be used in a time-multiplexed or data-multiplexed manner to monitor events of multiple event types. The hardware sampling mechanism may return a statistical packet for sampled instructions, which may be examined to determine the event type.