HP Inc (NYSE: HPQ) reported third-quarter earnings that fell short of analyst expectations, sending shares down 2.3% in after-hours trading. The computer and printer maker's revenue, however, surpassed estimates as it returned to growth.

HP reported adjusted earnings per share of $0.83 for the quarter ended July 31, missing the analyst consensus of $0.86. Revenue came in at $13.52 billion, up 2.4% YoY and above the $13.37 billion analysts expected.

The company's Personal Systems segment, which includes PCs, saw revenue rise 5% YoY to $9.4 billion. Printing revenue declined 3% to $4.1 billion.

"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 Enrique Lores, President and CEO of HP Inc.

For the fourth quarter, HP forecasts adjusted EPS between $0.89 and $0.99, compared to the $0.95 analyst estimate. The company narrowed its full-year 2024 adjusted EPS guidance to $3.35-$3.45, with the midpoint slightly below the $3.45 consensus.

HP generated $1.3 billion in free cash flow during the quarter and returned $0.9 billion to shareholders through share repurchases and dividends. The company also increased its share repurchase authorization to $10 billion.