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Executives at HP are cautiously optimistic heading into next year.
The maker of printers and PCs said on Thursday it expects adjusted diluted earnings per share in the range of $1.74 to $1.84 in the 2018 reporting period, which ends October 31, 2018.
That's on the high end of the range of $1.68 to $1.86 expected on Wall Street, according to a Thomson Reuters consensus estimate.
The company also estimates fiscal 2018 free cash flow of "at least $3 billion." HP said it expects to return 50 percent to 75 percent of that cash flow to shareholders through dividends and buybacks, likely "towards the higher end of that range."
HP has yet to report its results for the 2017 fiscal year. But in August, HP said it expected adjusted diluted EPS of $1.63 to $1.66. Analysts polled by Thomson Reuters predict it will be closer to $1.64 to $1.68.
HP's announcement comes on the heels of promising third-party data. Data released by IDC this week indicated that HP grew its share to nearly 23 percent of the global PC market, up from 21.4 percent in the year-ago period. Separate data released this week by Gartner also showed HP as the top worldwide provider of PCs, with an estimated 21.8 percent market share.
A worldwide component shortage has created challenges for traditional electronics manufacturers. But HP said it has some other projects in the works, including an expansion into textiles and 3-D printing of metals.