HP Inc. Earnings Disappoint on Weak PC Pricing and Soft Printer Sales

HPInc. posted mixed financial results, showing the effects of both weak demand for printers and softer-than-expected prices for personal computers. And with fundamentals improving more slowly than the company had hoped, management trimmed its outlook for the October 2023 fiscal year.

But Lores also said “PC prices are not improving as quickly as we expected.” He noted that while overall demand is stronger than expected, in particular for consumer PCs, continued high levels of industry-wide inventory are pressuring pricing. As for printers, Lores said, demand was particularly soft for consumer models, while commercial printers were down modestly. Demand was soft in China, “which did not recover in Q3 as we had expected,” he said.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tesla Inc. stock rises Monday, still underperforms marketShares of Tesla Inc. inched 0.10% higher to $238.82 Monday, on what proved to be an all-around great trading session for the stock market, with the NASDAQ...
Source: MarketWatch - 🏆 3. / 97 Read more »

Netflix Inc. stock rises Monday, still underperforms marketShares of Netflix Inc. inched 0.49% higher to $418.06 Monday, on what proved to be an all-around positive trading session for the stock market, with the S&P...
Source: MarketWatch - 🏆 3. / 97 Read more »