HP Trades Lower After 2Q Results
28 Mai 2020 - 4:43PM
Dow Jones News
By Matt Grossman
HP Inc. shares declined on Thursday morning, a day after the
Palo Alto, Calif.-based computing company reported
lower-than-expected second-quarter revenue.
HP stock fell more than 11% Thursday morning to $15.21, after
closing trading on Wednesday at $17.12.
In the second quarter, HP's revenue fell to $12.47 billion, from
$14.04 billion a year earlier. The decline was sharper than
analysts had forecast, according to FactSet, which had gathered a
consensus estimate of $12.93 billion. Revenue from laptop and
desktop computers fell 7% compared with last year.
HP declined to provide full-year earnings guidance, but forecast
that third-quarter adjusted earnings will be between 39 cents a
share and 45 cents a share.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
May 28, 2020 10:28 ET (14:28 GMT)
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