HP, Inc. (NYSE: HPQ) on Tuesday reported a decline in earnings for the second quarter of 2023 when the computer hardware firm’s revenues dropped due to weak demand.
Second-quarter profit, excluding special items, decreased to $0.80 per share from $1.08 per share in the comparable period of last year. On a reported basis, net income was $1.1 billion or $1.07 per share, compared to $1.0 billion or $0.94 per share last year
At $12.9 billion, revenues were down 21.7% during the three-month period. Revenues of the main operating segments — Personal Systems and Printing — declined during the quarter.