HP Reports EPS Beat, While Revenues Miss
<p><a href='https://financialmodelingprep.com/financial-summary/HPQ'>HP Inc. (NYSE:HPQ)</a> reported its Q1 results on Tuesday, with EPS coming in at $0.75, better than the Street estimate of $0.74, while the revenue of $13.8 billion missed the Street estimate of $14.15 billion.</p>
<p>The company expects Q2/23 EPS to be in the range of $0.73-$0.83, compared to the Street estimate of $0.76.</p>
<p>The company maintained its full-year EPS guidance of $3.20-$3.60 (vs. Street’s $3.29) despite much weaker enterprise demand, as it expects the stronger margin (for both PS and Print) to continue in 2023.</p>
<p>With regards to end demand, management highlighted tightening corporate budgets began to affect large enterprise demand, and therefore it lowered its PC unit TAM forecast for 2023 from down 10% to down high-teens percent, while it also expects channel inventory drawdown to push out by a quarter.</p>

NYSE:HPQ