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HP Stock Tumbles on Disappointing Q1 Forecast

Hewlett-Packard office

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HP (HPQ) shares tumbled in extended trading Tuesday after the company's current-quarter outlook missed analysts' projections, despite better💖-than-expected results for the fiscal fourth-quarter.

The personal computer and printing company saw fourth-quarter revenue grow 1.7% year-over-year to $14.1 billion, higher than the analyst consensus from Visible Alpha. Net income came in at $900 million or 93 cents per share, compared to $1 billion or 97 cents per share a year ago and above estimates. 

HP’s Personal Systems divisioඣn, which includes PCs,♈ brought in revenue of $9.6 billion, up 2%, while its Printing division delivered revenue of $4.5 billion, 1% higher. 

HP's Current-Quarter Outlook Misses Estimates

For the current quarter, HP forecast 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of 57 cents to 63 cents, belꦕow the analyst consensus of 72 cents. Its full-yearಞ EPS estimate of $3.06 to $3.36 topped expectations.

The company also announced a 5% increase in its quarterly dividend to about 29 cents per share.

Shares of HP fell 8% in extended trading Tuesday following the release. They were up 30% for the year through Tuesday's close. 

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