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HP Lifts Earnings Outlook Despite Supply-Chain Disruptions

CEO Enrique Lores says component shortages have eased though are likely to persist this year

Every day, millions of sailors, truck drivers, longshoremen, warehouse workers and delivery drivers keep mountains of goods moving into stores and homes to meet consumers’ increasing expectations of convenience. But this complex movement of goods underpinning the global economy is far more vulnerable than many imagined. Photo illustration: Adele Morgan
By Dean Seal

HP offered an upbeat earnings outlook even as ongoing supply-chain disruptions and sanctions against Russia impact its laptop and printing business.

The tech equipment company on Tuesday said demand for computers in recent months was largely fueled by sales to commercial customers. HP joined Dell Technologies Inc. and others in seeing a slowdown in lower-cost laptop sales that boomed during the pandemic, whereas businesses are still investing in computers as staff switch from remote to hybrid work arrangements.

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This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.