Positive Q3 Report From HP Fails To Offset Weak Q4 Guidance – Bears Say “Sell”
HP Inc reported better headline results after the market close on Wednesday, but issued fourth-quarter profit guidance that is lower than analyst estimates. The PC and printer-focused arm of Hewlett-Packard announced a higher-than-expected $11.9 billion in revenues or $0.48 earnings per share for the third quarter.
While revenues from the computer business jumped 7.5%, HP’s revenue from printer business declined 14.3%. The company is struggling with weak demand for its printers and had to revise the next quarter’s EPS projections downwards, to a range from $0.34 to $0.37, which is significantly lower than the consensus estimate of $0.41.
Sell Limit at 21.90, Take profit at 21.60, Stop loss at 22.00