HP reported the third-quarter profit that fell short of analysts' expectations in what the company defined as a "tough" quarter. The operating earnings is 23 cents a share compare to 14 cents a year ago, but still 3 cents short of estimates. Sales also missed analysts' projections.

Looking ahead, HP projected fiscal fourth-quarter earnings of 34 cents to 36 cents a share compared with Wall Street's view of 36 cents a share.

"HP reported disappointing July quarter results, with each of its key segments, including imaging and printing, contributing to the shortfall. As in the past quarters, HP shares will again react to the disappointing results, widening the relative multiple gap between it and IBM," commented Goldman Sachs analyst Laura Conigliaro.

By: DocMemory
Copyright © 2023 CST, Inc. All Rights Reserved