HP Maintains Cash-Flow Outlook Even as PC Demand Craters
- Shares gain in late trading after PC maker gives forecast
- Company expects computer demand to begin a rebound this year
Photographer: Tony Avelar/Bloomberg
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HP Inc. maintained its annual guidance for cash flow even as it grapples with slumping PC demand, a sign it expects a rebound later in the year.
The company stuck by its fiscal year outlook of about $3.25 billion in free cash flow on Tuesday, staying above an average analyst estimate of $3.09 billion. It also reaffirmed its previous guidance that adjusted profit will be between $3.20 and $3.60 a share, better than analysts have projected.