HP Inc missed Wall Street targets for second-quarter revenue on Tuesday as inflation-hit customers spent less on the company's personal computers, sending its shares down nearly 3 per cent in extended trading.
Global PC shipments declined nearly 30 per cent in the January-March period to levels lower than before the pandemic, according to data from research firm IDC. HP said it expects second-half revenue to be higher than the first half, even though the year-on-year comparison will still be negative.
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