HP Warns of Slowing Business Spending as PC Sales Sag

by | Aug 30, 2022 | Business

HP sales declined in the latest quarter, and the PC maker cut its outlook as it joined the growing list of companies to report a slowdown in consumer spending on electronics and cautioned about lagging business sales going forward.The computer-and-printer maker on Tuesday said revenue for its fiscal third quarter shrank 4.1% to $14.66 billion, weighed down by a 20% decline in consumer spending, while its commercial business grew 7%. Analysts polled by FactSet expected revenue of $15.59 billion.

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