HP Forecasts Miss Analyst Estimates on Consumer Sales Slump
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Hewlett-Packard Co., the world’s largest computer maker, forecast fiscal fourth-quarter and full-year earnings that missed analysts’ estimates because of lackluster consumer spending.
Sales for the period ending in October will be $32.1 billion to $32.5 billion, Palo Alto, California-based Hewlett-Packard said in a statement today. That missed the average $34 billion estimate of analysts surveyed by Bloomberg. Earnings excluding some items will be $1.12 to $1.16 a share, compared with analysts’ $1.31 average estimate.