Shulou(Shulou.com)11/24 Report--

CTOnews.com November 22 news, HP released the latest earnings forecast on Tuesday, the company believes that PC demand has not recovered, the first quarter profit per share will be between 76 and 86 cents, lower than Wall Street expectations, but maintained the annual profit forecast, causing the stock price to fall more than 3% after hours.

Companies like HP, Lenovo and Dell are believed to have fallen from their peak during the epidemic, when the trend toward working from home boosted sales of laptops and other electronic devices.

The company said it plans to launch AI PCs in the second half of next year and expects its penetration rate to increase gradually.

"While we don't think the market will shift to AI PCs immediately, we think the increase in demand will be gradual, with some growth in 2024 and higher penetration in 2025 and 2026," CEO Enrique Lores said in a press conference call.

Recent earnings from some head-PC chipmakers suggest that more than two years of slumping demand in the market may be coming to an end with the holiday season and a possible Microsoft Windows 12 update next year.

In response, HP maintained its fiscal 2024 adjusted profit per share forecast of $3.25 to $3.65 (CTOnews.com note: currently about 23 to 26 yuan). Its fourth-quarter revenue was $13.82 billion (currently about 99.089 billion yuan), slightly below analyst estimates of $13.85 billion.

"We continue to see weak demand from both the consumer and business segments of the Chinese market. At this point, we don't expect that to change and we've built that into our plans,"Lores said.

HP's personal systems division, which includes desktops and laptops, saw sales drop 8 percent from a year ago, while its printing division fell 3 percent. Lenovo, meanwhile, reported a revenue decline last week, while Dell is scheduled to report third-quarter results Nov. 30.

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