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Technology

HP Inc. Rises After Bullish Profit Outlook for Fiscal 2022

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  • Company projects annual revenue gain in ‘low single’ digits
  • Computer, printer maker hurt by supply shortages last quarter

HP Inc. gave a profit forecast for fiscal 2022 that exceeded analysts projections and said it expects revenue to increase, defying predictions that the company’s sales growth has peaked. Shares jumped about 3% in extended trading on the announcement.

Fiscal 2022 earnings, excluding some items, will be $4.07 to $4.27 a share, Chief Financial Officer Marie Myers said Wednesday during an online investor presentation. That’s higher than analysts’ average estimate of $3.78 a share, according to data compiled by Bloomberg.