Why HP Stock Fell on Wednesday
Shares of (NYSE: HPQ) were down by 7% as of 1:21 p.m. ET Wednesday after the company delivered its fiscal third-quarter results after the close Tuesday afternoon, reporting declining revenue and earnings per share.
For the period, which ended July 31, revenue was down nearly 10% year over year on a reported basis, but down just 7.4% when factoring out the impacts of foreign currency exchange rate shifts. But adjusted earnings per share were down 17% over the year-ago quarter due to lower margins across the printing and personal computing systems segments.
HP said it gained market share in the PC segment in the quarter, with revenue in personal systems up 9% over the previous quarter. But the weak environment for PC sales is weighing on the company's performance. Industrywide, global PC shipments fell 13% in the second quarter, according to IDC.
Source Fool.com
HP Inc. Stock
We see a rather positive sentiment for HP Inc. with 13 Buy predictions and 2 Sell predictions.
With a target price of 32 € there is a slightly positive potential of 2.14% for HP Inc. compared to the current price of 31.33 €.
