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Computer hardware company HP, Inc. (NYSE: HPQ) on Tuesday reported first-quarter earnings and profits as demand conditions remained sluggish.
First-quarter earnings, adjusted for special items, fell to $0.75 per share from $1.10 per share in the corresponding period last year. On a reported basis, earnings fell to $0.5 billion or $0.49 per share from $1.1 billion or $0.99 per share in the first quarter of 2022.
Check out this space to read management/analyst commentary on HP’s Q1 report
At $13.8 billion, revenue was down 18.8% in the first three months of fiscal 2023. Net cash used in operating activities was $(16) million in the first quarter, and free cash flow was $(0.2) billion.
(this story will be updated soon)
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