HP Inc.’s quarterly sales fell short of projections, hurt by an industrywide shortage of semiconductors that is constraining personal-computer production. Shares dropped in late trading.
Revenue in the third quarter was $15.3 billion, up 7% but less than the average analyst estimate of $15.9 billion, according to data compiled by Bloomberg. Still, profit topped estimates, and the company gave an upbeat outlook for earnings thanks to higher PC prices.
