HP falls on dour profit forecasts; announces layoffs

Shares of PC maker HP HPQ.N down ~5% at $23.12 after the bell

Co expects fiscal 2026 adjusted EPS between $2.90 and $3.20, below analysts' estimates of $3.33 - data compiled by LSEG

For Q1, it projects adjusted EPS between 73 cents and 81 cents, largely below estimates of 79 cents

However, Q4 revenue of $14.64 billion beat estimates of $14.48 billion, and adjusted EPS of 93 cents beat expectations of 92 cents

Co also says it expects to cut between 4,000 and 6,000 jobs globally by fiscal 2028 as part of a plan to streamline operations

Stock has fallen 25.5% YTD