HP Shares Slide 9 Percent on Declining PC Shipments
HP shares slid 9 percent in extended trading after declining PC shipments and margins overshadowed strong quarterly revenue growth. Rising memory chip costs and commodity pressures continue to weigh on the company outlook.
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HP INC reported a 16% drop in PC unit shipments during the third quarter, sending shares down 9% in extended trading on Wednesday. That decline overshadowed strong revenue growth of 12.5% as rising component expenses squeezed operating margins.
