HP Inc forecasts adjusted profit largely below analysts' estimatesNovember 23, 2016 - 17:05 AMT PanARMENIAN.Net - HP Inc (HPQ.N), the legacy printer and PC business of the former Hewlett-Packard Co, forecast a current-quarter adjusted profit largely below analysts' estimates amid waning demand for its printers, Reuters said. The company's shares were down nearly 2.2 percent after the bell. HP Inc said it expects an adjusted profit 35-38 cents per share for the first quarter. Analysts on average were expecting 38 cents per share, according to Thomson Reuters I/B/E/S. Revenue from the company's printer business fell nearly 8.2 percent in the fourth quarter, from a year earlier. To beef up its fading printer business, HP in September said it would buy Samsung Electronics Co Ltd's (005930.KS) printer business for $1.05 billion. HP Inc's net earnings plunged to $492 million, or 28 cents per share, in the quarter ended Oct. 31, from $1.32 billion, or 73 cents per share. Excluding items, the company earned 36 cents per share, in line with analysts' estimate. The company's net revenue rose 2 percent to $12.51 billion, above the average analyst estimate of $11.9 billion. Meanwhile, Hewlett Packard Enterprise Co (HPE.N), which was also spun off from Hewlett-Packard Co and now holds the corporate hardware and enterprise software division, reported a better-than-expected fourth quarter profit, helped by demand for it servers and storage services. Excluding items, HPE earned 61 cents per share beating the average analyst estimate of 60 cents. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Pashinyan travels to Iran to pay tribute to Raisi, others Prime Minister Nikol Pashinyan has left for the Islamic Republic of Iran on a working visit. Your home is in Armenia – Ameriabank offers mortgage loans for the Diaspora To buy real estate, Diasporans can apply to Ameriabank online to buy, renovate or build a home anywhere in Armenia. Armenia-Qatar ties discussed in Doha The Secretary of Armenia’s Security Council met with the Deputy Secretary General of the National Security Council of Qatar. ARARAT special evening dedicated to Aznavour's 100th Anniv. On May 20 ARARAT legendary Armenian brandy, celebrated the centennial of Maestro Charles Aznavour with a special event. |