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HP forecast second-quarter adjusted profit per share between 76 cents and 86 cents, the midpoint of which is in line with estimates of 81 cents.
In May, Lenovo reported 14% revenue decline for the year through March, its first annual fall since 2019, following a pandemic-induced boom for electronics manufacturers.
The pace of the recovery remains weak and many retailers still grapple with unsold inventory, forcing PC makers and their suppliers including chipmakers to adjust production volume and prices.
Chairman Jagdeep Dhankhar adjourned the proceedings till 2 pm amid disruptions.
Chairman Jagdeep Dhankhar adjourned the proceedings till 2 pm amid disruptions.