HP Warns of Slowing Business Spending as PC Sales Sag

HP gross sales declined within the newest quarter, and the PC maker minimize its outlook because it joined the rising record of firms to report a slowdown in shopper spending on electronics and cautioned about lagging enterprise gross sales going ahead.

The pc-and-printer maker on Tuesday mentioned income for its fiscal third quarter shrank 4.1% to $14.66 billion, weighed down by a 20% decline in shopper spending, whereas its business enterprise grew 7%. Analysts polled by FactSet anticipated income of $15.59 billion.