Shares in HP fell late on Wednesday after the group that is best known for its PCs and printers revealed a current quarter outlook that missed Wall Street expectations.

Palo Alto-based HP said it expects to post adjusted earnings, which exclude certain factors, of 34 to 37 cents a share in the current quarter, shy of Wall Street expectations for 40 cents.

The disappointing outlook, which knocked the shares down 4.5 per cent to $13.75 in extended trading, came even as the group unveiled better-than-expected results for the quarter to July 31.

HP said its net earnings fell to $783m in the fiscal third quarter, from $854m in the same three-month period in 2015. Adjusted earnings per share of 48 cents topped forecasts of 45 cents.

Sales dipped 3.8 per cent to $11.9bn, but still beat estimates of $11.5bn.

“In Q3, we delivered on our financial commitments and continued to make solid progress in executing against our core, growth and future strategic framework,” said chief executive Dion Weisler.

HP, which separated from its enterprise division in 2015, had risen by 21.6 per cent this year as of Wednesday’s close.

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