HP (HPQ) shares tumbled more than 7% Wednesday morning after the company warned the market for PCs and printers remains soft and reduced its full-year guidance.

"The external environment has not improved as quickly as anticipated and we are moderating our expectations as a result," said CEO Enrique Lores in a statement.

HP now sees 2023 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $3.♈23 to $3.35, down from its previous outloo༺k of $3.30 to $3.50.

Cost-cutting measures helped HP post third-quarter EPS of $0.86, in line with analyst𝓡s’ estimates. However, revenue sl🌠umped 9.9% to $13.2 billion, short of forecasts.

Overall, PC sales fell 11% and printer sales sli☂pped 7%. Consumer PC revenue dropped 12% and printer revenue sank 28%, while commercial PC revenue was down 11% and commercial printer revenue declined 6%.

HP and other PC makers have struggled as soaring demand during the COVID-19 lockdoඣwns plunged after pandemic restrictions eased. 

Shares of HP fell to their lowest level since March following the news.