Hewlett-Packard Shares Fall After Forecast Misses Estimates
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Hewlett-Packard Co. fell the most in more than six years after its forecast missed analysts’ sales and profit estimates, a shortfall it blamed on sluggish demand for services and consumer products.
Excluding some costs, second-quarter profit will be as much as $1.21 a share, the Palo Alto, California-based company said yesterday in a statement. That missed the $1.26 predicted by analysts in a Bloomberg survey. Sales will top out at $31.6 billion, compared with an average estimate of $32.6 billion.