HP tempered expectations for annual profit on Tuesday, as it grapples with a more than a year-long slump in the personal computers segment and sluggish demand in key market China.
"While we expect another quarter of sequential growth in the fourth quarter, the external environment has not improved as quickly as anticipated and we are moderating our expectations as a result," said HP's CEO Enrique Lores. "We don't see it happening anytime soon. And at this point, we are not building that recovery in any of our plans," Lores added.
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