HP lowers full-year profit forecast due to sluggish PC market and weak demand in China

According to news from this website on August 30, Hewlett-Packard Co. lowered its full-year profit forecast on Tuesday as the company faces more than a year of sluggish personal computer market and weak demand in the Chinese market. The company's stock price is at It fell 5.2% in after-hours trading.

Last year, demand for consumer electronics products, including personal computers, fell due to the impact of inflation and global economic uncertainty, causing the entire supply chain to HP CEO Enrique Lorres said: "While we expect to continue to achieve quarter-over-quarter growth in the fourth quarter, the external environment has not improved as quickly as we expected, so we Adjustments to expectations

Shipments of PCs in China, including desktops, laptops and workstations, have fallen 19% over the past few months, according to data from analytics firm Canalys

Lores further said: "We do not believe that the recovery of the Chinese market will happen soon. At this time, we have not factored this recovery into any of our plans."

HP now expects adjustments Earnings per share were expected to be between $3.23 and $3.35, compared with previous expectations of $3.30 to $3.50.

The company’s revenue in the third quarter fell 9.9% year-on-year to US$13.2 billion (approximately 96.228 billion yuan), lower than analysts’ expectations of US$13.37 billion

However, the company managed to achieve adjusted earnings of 86 cents per share in line with analysts' expectations by controlling costs. Total costs and expenses also fell 8.6% compared to the same period last year. The company said that by the end of this fiscal year, the company will still achieve the three-year cost savings target of 40% as scheduled

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