HP Inc on Tuesday missed Wall Street targets for second-quarter revenue, hurt by a slowdown in the personal computer market as inflation-hit customers tightened their budgets.
Global PC shipments declined nearly 30 per cent in the January-March period to levels lower than before the pandemic, according to data from research firm IDC. HP said it expects second-half revenue to be higher than the first half, even though the year-on-year comparison will still be negative. The PC maker now expects annual adjusted profit between $3.30 per share and $3.50 per share, compared with $3.20 to $3.60 forecast earlier.
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