<p>HP Inc beat Wall Street estimates for third-quarter revenue on Wednesday, marking its first quarter of revenue growth after eight consecutive quarters of decline.</p>.<p>The turnaround was primarily driven by a recovery in the personal computer market, bolstered by demand for artificial intelligence-capable systems.</p>.<p>The PC market has been on a resurgence lately driven by customers upgrading their systems following a nearly two-year period of low demand post-pandemic.</p>.<p>Demand is also expected to surge as companies roll out AI-capable PCs equipped with advanced, powerful processors designed for AI tasks.</p>.<p>"We are pleased with our return to revenue growth and proud of the innovations delivered in the quarter, including the launch of our next-generation AI PC lineup," said CEO Enrique Lores.</p>.<p>Global shipments of personal computers rose by 3% to 64.9 million units in the three months ended June, marking a second straight quarter of growth after two years of decline, preliminary data from research firm IDC showed in July.</p>.<p>For the third-quarter, HP posted a 2.4% increase in revenue to $13.52 billion, compared with analysts' average estimate of $13.38 billion,according to LSEG data.</p>.How Apple helped Tata Electronics hit nine-times revenue jump post this key acquisition.<p>The Palo Alto, California-based company also increased its share repurchase authorization to $10 billion.</p>.<p>However, the PC maker expects fourth-quarter adjusted profit per share to be between 89 cents and 99 cents, the midpoint of which was below LSEG estimates of 95 cents.</p>.<p>HP also tightened its fiscal year 2024 adjusted profit forecast to be in the range of $3.35 to $3.45 per share, compared with its prior outlook of between $3.30 to $3.60 per share.</p>.<p>Analysts on average expect annual adjusted profit per share of $3.45, according to LSEG data.</p>
<p>HP Inc beat Wall Street estimates for third-quarter revenue on Wednesday, marking its first quarter of revenue growth after eight consecutive quarters of decline.</p>.<p>The turnaround was primarily driven by a recovery in the personal computer market, bolstered by demand for artificial intelligence-capable systems.</p>.<p>The PC market has been on a resurgence lately driven by customers upgrading their systems following a nearly two-year period of low demand post-pandemic.</p>.<p>Demand is also expected to surge as companies roll out AI-capable PCs equipped with advanced, powerful processors designed for AI tasks.</p>.<p>"We are pleased with our return to revenue growth and proud of the innovations delivered in the quarter, including the launch of our next-generation AI PC lineup," said CEO Enrique Lores.</p>.<p>Global shipments of personal computers rose by 3% to 64.9 million units in the three months ended June, marking a second straight quarter of growth after two years of decline, preliminary data from research firm IDC showed in July.</p>.<p>For the third-quarter, HP posted a 2.4% increase in revenue to $13.52 billion, compared with analysts' average estimate of $13.38 billion,according to LSEG data.</p>.How Apple helped Tata Electronics hit nine-times revenue jump post this key acquisition.<p>The Palo Alto, California-based company also increased its share repurchase authorization to $10 billion.</p>.<p>However, the PC maker expects fourth-quarter adjusted profit per share to be between 89 cents and 99 cents, the midpoint of which was below LSEG estimates of 95 cents.</p>.<p>HP also tightened its fiscal year 2024 adjusted profit forecast to be in the range of $3.35 to $3.45 per share, compared with its prior outlook of between $3.30 to $3.60 per share.</p>.<p>Analysts on average expect annual adjusted profit per share of $3.45, according to LSEG data.</p>