HP Stock Falls After Hours Due To FY23 EPS Guidance Issued Below Estimates
Portfolio Pulse from Ryan Gustafson
HP Inc. reported better-than-expected Q3 results but issued FY23 EPS guidance below estimates, causing its shares to fall in after-hours trading. The company reported Q3 earnings of 86 cents per share, beating the estimate of 80 cents, and sales of $13.20 billion, beating the estimate of $12.39 billion. However, the company's FY23 EPS is estimated to be between $3.23 and $3.35, lower than the $3.37 estimate.
August 29, 2023 | 8:41 pm
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HP Inc.'s shares fell due to lower than expected FY23 EPS guidance despite better Q3 results.
HP Inc.'s shares fell in after-hours trading due to the company issuing FY23 EPS guidance below estimates. This is despite the company reporting better-than-expected Q3 results. The lower guidance indicates that the company expects lower earnings in the future, which is a negative signal for investors.
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