HP forecasts Q1 profit below estimates on sluggish demand in PC market

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HP forecasts Q1 profit below estimates on sluggish demand in PC market - Channel News Asia

Quick Summary:

:HP forecast its first-quarter profit below Wall Street expectations on Tuesday, signaling persistent choppy demand in the personal computers market and sending the company's shares down 8.4 per cent in extended trading.

AI PCs have not boosted the overall PC demand as "buyers have yet to see their clear benefits", Gartner analyst Mikako Kitagawa said.

"We are taking pricing and cost actions to offset some of the margin headwinds in the personal systems and that's going to have a more significant impact in the back half".