HP Inc (NYSE:HPQ) shares opened 3% lower in opening Thursday exchanges on a mixed reaction to the personal computer maker’s first-quarter financials.
Net quarterly revenues saw a 4.4% year-on-year decline to $13.2 billion, reflecting lower demand in the global PC market.
Despite the revenue downturn, HP’s reported earnings per share (EPS) rose to $0.62 from $0.47.
Segment-wise, the Personal Systems sector experienced 4% dip in net revenue, totalling $8.8 billion, while the Printing segment saw a 5% decrease to $4.4 billion.
Looking ahead, HP estimates reported EPS in the range of $0.58 to $0.68 in the second quarter and full-year EPS between $2.61 to $3.01.
HP is targeting full-year free cash flow between $3.1 billion and $3.6 billion.
Shares were swapping for $27.98 at the time of writing.