HP CEO on Q1 revenue decline: We expect the PC market to grow, demand has slowed down

HP Inc. (HPQ) reported first-quarter adjusted earnings per share of $0.81, which was in line with estimates. Revenue, however, fell short, $13.2 billion compared to an estimate of $13.58 billion. The ongoing sluggishness in the PC market weighed on the company's results. HP CEO Enrique Lores told Yahoo Finance Executive Editor Brian Sozzi that he does expect PC sales to grow in 2024, with the second half of the year being stronger than the first. What's driving the PC slowdown? Lores says, "What we have seen is that demand has slowed down. I think it's driven by the cautiousness that we see in corporate customers." Lores, however, strikes an optimistic tone looking forward, arguing that he expects "recovery on the commercial side and also a strong seasonal performance on the consumer side." Watch the video above to hear Lores has to say about how AI will impact HP's business going forward. #youtube #stockmarket #technology About Yahoo Finance: Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life. Get the latest news and data at finance.yahoo.com Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO) Follow Yahoo Finance on social: X:   / yahoofinance   Instagram: https://www.instagram.com/yahoofinanc... TikTok: https://www.tiktok.com/@yahoofinance?... Facebook:   / yahoofinance   LinkedIn:   / yahoo-finance