HP Projects Profit at Low End of Outlook on Memory Costs

HP Inc. gave a profit outlook for the current quarter that may fall short of estimates and said full-year earnings will likely hit the lower end of a previously forecast range as the company copes with tariffs and the rising price of memory chips.

Profit, excluding items such as restructuring costs, will be 70 cents to 76 cents a share in the period ending in April, HP said Tuesday in a statement. Analysts, on average, projected 75 cents, according to data compiled by Bloomberg. The company reiterated its previous forecast for annual profit of $2.90 to $3.20 a share.