Yahoo TV

Shares of HP (HPQ) are sliding in extended-hours trading after the company reported its third quarter results and narrowed its guidance. HP Inc. CEO Enrique Lores joins Yahoo Finance Executive Editor Brian Sozzi to discuss HP's earnings and how the company seeks to recover from weak print sales.

"I think this quarter shows the momentum that we have been building. In fact, this is the first quarter in nine where we are seeing revenue growing again, which is an important change and is really driven by the demand that we see in the PC space, especially in commercial PCs and also in what we call our growth businesses... On the other side, we have also continued to see some pressure, especially on print," Lores says of the quarter.

Lores notes that the market for print has "not recovered as fast as we were expecting," especially in the office and commercial areas. "Companies are prioritizing other types of investments and therefore, we haven't seen the growth in this space," he explains. However, he points to some recovery in the home space and highlights that print supplies performed in-line with expectations.

"We don't think this is a structural change. We think this is just a slowdown of the recovery driven by how enterprises continue to be cautious about the investments that they are making. And this is why we haven't changed our long-term view of the business," Lores adds. He explains that HP will continue focusing on cutting costs in an initiative to save $1.6 billion, and expects 80% of that goal to be met by the end of the year.

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This post was written by Melanie Riehl