Chairman John Idol takes over the CEO spot from Cedric Wilmotte, who is leaving the organization as part of a cost-cutting initiative. HP Inc (HPQ) reports a 2% revenue increase and gains in PC market share, while navigating cost pressures and competitive challenges.

HP (HPQ) shares tumbled in extended trading Tuesday after the company's current-quarter outlook missed analysts' projections, despite better-than-expected results for the fiscal fourth-quarter. The personal computer and printing company saw fourth-quarter revenue grow 1.

HP's print segment shows growth, but long-term challenges remain. The consumer PC market remains sluggish due to a cautious spending environment. See more here.