HP Sales Decline Worse Than Expected as PC Slump Continues
HP laptops in San Francisco.
Photographer: Kimberly White/Bloomberg
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HP Inc. reported sales that fell further than analysts’ estimated, a sign the company continues to be hamstrung by the ongoing slump in demand for personal computers.
Revenue declined 22% to $12.9 billion on a worse-than-expected drop in consumer PC sales, the company said Tuesday in a statement. HP’s Personal Systems segment fell 29% to $8.2 billion, compared with analysts’ average estimate of $8.4 billion.