HP Fails to Capitalize on Surging Demand for PCs During the COVID-19 Crisis
HP (NYSE: HPQ) recently posted its second-quarter earnings, and the results didn't impress investors. The PC and printer maker's revenue fell 11% annually to $12.5 billion, missing estimates by $240 million. Its adjusted net income declined 10% to $0.7 billion, as its adjusted EPS dipped 4% to $0.51 per share -- which still beat estimates by $0.07.
Those steep declines indicated HP didn't profit from the surging demand in new PCs fueled by remote workers during the COVID-19 crisis. Let's see why HP missed out on this growth spurt, and what it means for the company's future.
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Source Fool.com
