Shares of HP Inc (NYSE:HPQ) slipped in after-hours trading after the company reported earnings for its third quarter of Fiscal Year 2023. Earnings per share came in at $0.86, which was in line with analysts’ consensus estimate. Sales decreased by 9.9% year-over-year, with revenue hitting $13.2 billion. This missed analysts’ expectations by $200 million.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Looking forward, management now expects adjusted earnings per share for Q4 2023 and FY 2023 to be in the ranges of $0.85 to $0.97 and $3.23 to $3.35, respectively. For reference, analysts were expecting $0.95 per share for the former and $3.37 per share for the latter.
Overall, Wall Street has a consensus price target of $30.09 on HPQ stock, implying 4.1% downside risk, as indicated by the graphic above.
