(Bloomberg) -- HP Inc. reported declining quarterly sales, signaling the coronavirus pandemic has disrupted the supply chain of the world’s second-largest personal computer maker. Shares declined about 3.5% in extended trading.

Revenue fell 11% to $12.5 billion in the period ended April 30, the Palo Alto, California-based company said Wednesday in a statement. Analysts, on average, estimated $12.9 billion, according to data compiled by Bloomberg. HP projected profit, excluding some expenses, of 39 cents to 45 cents a share in the current quarter, falling short of analysts estimates of 46 cents.

Rival Xerox Holdings Corp. has targeted HP in a hostile takeover bid before dropping the effort March 31, citing economic uncertainty caused by the pandemic. Before the Covid-19 outbreak, HP had committed to a $16 billion program to return more money to investors while Chief Executive Officer Enrique Lores has sought to shore up the print division he once ran. Lores said in an interview he remained committed to the principles of the plan, which called for $15 billion in share repurchases, but the macro environment has changed. HP said it will update investors during a conference call later Wednesday.

Profit, excluding some expenses, was 51 cents per share in the second quarter, exceeding analysts’ projections of 42 cents.

HP shares fell to $16.50 in extended trading at 4:20 p.m New York time after closing at $17.12. The stock has dropped 17% this year.

Revenue from personal computers and related systems decreased 7% to $8.3 billion in the period, with declines across laptops, desktops and workstations. Laptop demand held up the best due to more people buying computers to work and learn from home.

Sales in the printing division fell 19% to $4.15 billion, with ink supplies dropping 15%. Consumer hardware revenue declined 16% and commercial devices decreased 31%.

(Updates with share price decline in the first paragraph.)

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