HP Inc: Q3 EPS down 17%
(CercleFinance.com) - On Tuesday evening, HP Inc reported Q3 2022-23 adjusted EPS (non-GAAP) that fell 17% to $0.
86, bang in the middle of its target range of $0.81-0.91, while its adjusted operating margin slipped 0.6 point to 8.8%.
The hardware manufacturer's sales totaled $13.2bn, down 9.9% as reported and down 7.4% at constant exchange rates, with declines at both its PC and printer businesses.
For FY 2022-23, HP now expects adjusted EPS of $3.23 to $3.35 (versus $3.30 to $3.50 three months ago), and free cash flow of around $3bn (instead of around $3bn to $3.5bn).
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