HP Inc. (NYSE:HPQ) shares are trading lower after it reported third-quarter results. Net revenue rose 2.4% Y/Y to $13.52 billion, beating the consensus of $13.38 billion.
By segment, Personal Systems net revenue rose 5% Y/Y to $9.4 billion with a 6.4% operating margin, and Printing net revenue fell 3% Y/Y to $4.1 billion with an operating margin of 17.3%.
In Personal Systems segment, total units increased by 1%, with Consumer PS units down 6% and Commercial PS units up 6%.
Adjusted operating margin contracted 70 bps Y/Y to 8.1% in the quarter. Adjusted EPS declined 3% Y/Y to $0.83,
