Investing.com - HP reported Tuesday fiscal third-quarter revenue that fell short of Wall Street estimates and weaker-than-expected annual earnings guidance amid a weaker backdrop for PC demand.
HP Inc (NYSE:HPQ) fell 5% in after-hours trade following the report.
HP reported adjusted EPS of $0.86 on revenue of $13.2 billion. Analysts polled by Investing.com anticipated adjusted EPS of $0.86 on revenue of $13.38B.
In its personal systems unit, which includes personal computers and accounts for the majority of growth, revenue fell 11% to $8.9B in Q3 year over year.
Printing net revenue fell 7% to $4.3B, led by partly by supply-chain issues.
Looking ahead, the company forecast adjusted fourth-quarter EPS of $0.85 to $0.97, compared with Wall Street estimates for EPS of $0.95.
For 2023, adjusted EPS was guided in a range of $3.23 to $3.35, below estimates of $3.37.