HP Inc, which incorporates the business of the former Hewlett-Packard Co (NYSE: HPQ) for the production of computer equipment, reported a quarterly revenue and earning which exceeded expectations and amid a recovery in demand on the PC.
However, HP predicts that earnings for the current quarter would be below analysts' expectations, which resulted from a decrease in sales of printers, as companies from various industries reduce costs.
Total revenues for the last quarter fell 3.8 % to $ 11.89 billion, but exceeded analysts' forecasts at $ 11.46 billion.
With the exception of one-time items, the HP earned 48 cents per share, exceeding the average analyst expectations of 44 cents.
The company's shares fell nearly 6 % after the close of trading on Wednesday.
Revenue from the computer business in the third quarter of the financial year rose 7.5 % against the previous quarter due to increased sales of laptops.
Revenue from printer sales declined by 14.3 % in annual terms, and by 4.6 % compared to the second quarter.
"Markets are complex and somewhat volatile," - said CEO Dion Vayzler during the conference call, noting that the company has yet to do a "great job".
HP reported a reduction of about 1000 jobs in the third quarter, bringing the total number of cuts this year to 2300 people.
According to the forecasts of HP, the adjusted earnings will be 34-37 cents per share from continuing operations in the current quarter. Reuters analysts expect on average earnings of 41 cents per share.
As for the US stock market, it fell on Thursday on Fed statements. Dow Jones Industrial Average fell 0.11% to 18,460.56 points, Standard & Poor's 500 decreased by 0.13% to 2172.7 points, and Nasdaq Composite fell 0.12% to 5211.6 points.