HP gives lower Q1 profit forecast on PC slump

Newly formed Hewlett-Packard Enterprise Chief Executive Officer (CEO) Meg Whitman speaks during a press conference in New York on November 2, 2015. Hewlett Packard officially split into two companies on November 2 with Hewlett-Packard Enterprise focused on businesses and HP, Inc, focused on consumers. AFP PHOTO/JEWEL SAMAD

SAN FRANCISCO: HP Inc gave a disappointing forecast for profit in its first quarter as a stand-alone company, hurt by its dependence on the lacklustre market for personal computers and printers after splitting up with its corporate-technology counterpart.

On a conference call yesterday following Hewlett-Packard Co’s final earnings report as one company, HP Inc. executives said the PC industry is tougher than anticipated. The former PC and printer units were separated this month from the divisions that sell equipment, services, and software to businesses, now known as Hewlett Packard Enterprise Co.