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HP Reduces Profit Forecast as PC Sales Continue to Slide

  • Quarterly revenue declines 4.1%, misses analysts’ estimates
  • Company sees ‘near-term headwinds’ clamping down on demand
Signage for HP Inc. outside the company's headquarters in Palo Alto, California.

Signage for HP Inc. outside the company's headquarters in Palo Alto, California.

Photographer: David Paul Morris/Bloomberg
Updated on

HP Inc. reported quarterly sales that missed estimates and reduced its annual profit forecast on falling demand for personal computers and printers, especially among consumers. The shares fell in extended trading.

Fiscal third-quarter revenue fell 4.1% to $14.7 billion, the Palo Alto, California-based company said Tuesday in a statement. Analysts, on average, projected $15.6 billion. Consumer sales in its computer division declined 20%, led by cratering demand for notebooks.