HP Reports Sales That Miss Estimates With PC Slump Dragging On
- Corporate and consumer unit revenue fell short of expectations
- Annual forecast maintained, CEO predicts second-half rebound
HP headquarters in Palo Alto, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
HP Inc. reported quarterly revenue that missed estimates, battered by the ongoing slump in personal computer sales.
Revenue declined 4.4% to $13.2 billion in the period ended Jan. 31, compared with analysts’ average projection of $13.6 billion. Profit, excluding some items, was 81 cents a share, in line with while Wall Street estimates.