Here's Why Value Stock HP Fell Today
Shares of computer and printer company HP (NYSE: HPQ) fell on Wednesday after the company announced financial results for the fiscal third quarter of 2022. As of noon ET, HP stock was down 6%.
In Q3, HP's revenue fell 4% year over year to $14.7 billion, falling short of analysts' expectations. However, its earnings per share (EPS) came in at $1.08, better than the high end of management's guidance as well as what analysts expected.
Considering Q3 results were mixed, I think Wall Street is negatively reacting more to guidance from HP's management than to Q3 itself. For 2022, HP's management thinks it will generate EPS of $3.46 to $3.56, down from previous guidance of $3.79 to $3.93.
Source Fool.com
