HP (NYSE:HPQ) shares fell more than 8% intra-day today after the company released its fiscal third-quarter revenue figures that fell short of expectations, along with less robust annual earnings guidance due to a weak environment for PC demand.

The company reported an adjusted EPS of $0.86 on revenue amounting to $13.2 billion. Analysts had expected an adjusted EPS of $0.86 on revenue of $13.38 billion.

Looking ahead, HP projected an adjusted fourth-quarter EPS ranging from $0.85 to $0.97, compared to Wall Street predictions of an EPS of $0.95. For the year 2023, the company estimated an adjusted EPS within the range of $3.23 to $3.35, which falls below the estimated figure of $3.37.