Shares of HP Inc. (NYSE:HPQ) fell more than 4% in after-hours trading Wednesday after the company’s first-quarter revenue missed expectations.
The firm posted fiscal Q1 earnings per share (EPS) of $0.81, matching the predictions. Revenue came in at $13.2 billion, missing the consensus estimates of $13.57 billion.
During the first quarter, HP returned $0.8 billion to its shareholders through share repurchases and dividends.
For the upcoming second quarter of 2024, the computer hardware company anticipates its EPS to be between $0.76 and $0.86, compared to the $0.81 estimated by analysts.
Full-year EPS are anticipated to range from $3.25 to $3.65, compared to the consensus projection of $3.45.
“Our Q1 results reflect continued progress against our Future Ready plan,” said Enrique Lores, HP’s President and CEO.
“We are bringing terrific innovation to our customers while driving disciplined execution across every facet of the business. As a result, we delivered solid earnings growth this quarter and we are well positioned to accelerate as the market recovers.”