HP sales declined in the latest quarter, and the PC maker cut its outlook as it joined the growing list of companies to report a slowdown in consumer spending on electronics and cautioned about lagging business sales going forward.
The computer-and-printer maker on Tuesday said revenue for its fiscal third quarter shrank 4.1% to $14.66 billion, weighed down by a 20% decline in consumer spending, while its commercial business grew 7%. Analysts polled by FactSet expected revenue of $15.59 billion.
