HP reports mixed Q1 due to soft PC and printer demand. By Investing.com

By Yasin Ebrahim

Investing.com — HP reported mixed fiscal results Tuesday, with earnings topping but revenue falling short of Wall Street estimates due to weaker demand for personal computing and printers. 

HP Inc (NYSE 🙂 saw a nearly 2% increase in sales following the report.

HP Q1 EPS $0.75 on revenue $13.8 billion, compared to estimates of $0.74B and $14.15B respectively.

Personal Systems net revenue was $9.2B. This is 24% less than the year before. Printing net revenue fell 5% to $4.6B.

Looking ahead, EPS was guided in a range of $0.73 to $0.83 in Q2, in line with expectations for $0.75 a share. EPS was projected to range from $3.20 to 3.60 in 2023, compared to estimates of $3.29 a Share. The company also guided free cash flow in the range of $3.0B to $3.5B.