HP holiday earnings chopped in half, CEO says 'we continue to see a slowdown' in PC sales

Earnings Results Last Updated: Feb. 28, 2023 at 6:27 p.m. ET First Published: Feb. 28, 2023 at 4:23 p.m. ET ‘Corporations are more conservative in spending and slowing down orders,’ HP CEO says as sales drop nearly 20% from previous holiday season HP Inc. reported fiscal first-quarter results on Tuesday. Bloomberg HP Inc.’s stock rose

Financial Press

Published

March 1, 2023

hp-holiday-earnings-chopped-in-half,-ceo-says-'we-continue-to-see-a-slowdown'-in-pc-sales

Earnings Results

Last Updated: Feb. 28, 2023 at 6:27 p.m. ET First Published: Feb. 28, 2023 at 4:23 p.m. ET

‘Corporations are more conservative in spending and slowing down orders,’ HP CEO says as sales drop nearly 20% from previous holiday season

HP Inc. reported fiscal first-quarter results on Tuesday.

Bloomberg

HP Inc.’s stock rose slightly Tuesday after the personal-computer maker reported quarterly earnings that beat Wall Street estimates despite a steep drop in revenue and GAAP earnings being cut in half.

HP HPQ posted fiscal first-quarter net earnings of $487 million, or 49 cents a share, down from net earnings of $1.1 billion, or 99 cents a share, in the year-ago quarter. After stripping out costs, including restructuring charges, the company reported earnings of 75 cents a share, down from $1.10 a share a year ago.

Net…

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