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HP's stock falls further after executives have described in detail the problems of supplying printers



HP Inc.

HPQ, -0.21%

Shares plunged further after trading hours Wednesday after the company revealed weakness in its printer supplies business. After the release of HP's vacation quarter results, the stock was down about 4% after HP's earnings quarter report was released, but the declines suddenly surpassed 10%, the leaders gave more details during a conference call Wednesday afternoon. At the call, general manager Dion Weisler said HP's market share and printers' consumable prices had come under pressure during the quarter and that the company was now forecasting a drop in its revenues of about 3% for the rest of the year. HP had previously indicated that sales should be stable or slightly up for this year. HP's shares traded between 12% and 13% below the closing price after the closing of the call Wednesday afternoon.

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