HP’s Fiscal Q3 Adjusted Earnings, Revenue Drop; Lowers Fiscal 2023 Adjusted Profit Guidance

HP (NYSE:HPQ) reported fiscal Q3 adjusted earnings  of $0.86 per diluted share, down from $1.03 a year earlier.

That result matched the average estimate of analysts polled by Capital IQ.

Revenue for the quarter ended July 31 was $13.20 billion, down from $14.65 billion a year earlier.

Analysts surveyed by Capital IQ expected $13.40 billion.

HP said it expects fiscal Q4 adjusted EPS of $0.85 to $0.97. Analysts polled by Capital IQ are looking for $0.95.

The company said it now expects fiscal 2023 adjusted EPS of $3.23 to $3.35. That compares with a range of $3.30 to $3.50 previously. Analysts surveyed by Capital IQ are expecting $3.37.

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