We HEWLETT-PACKARD record losses
Hewlett-Packard reported results for the third quarter of the current fiscal year, which ended in July. The company#39;s losses, as expected, were $ 8.9 billion, which is the largest loss in the history of HP, due to the write-off of assets in connection with the fall of the market value of the company Electronic Data Systems Corp, acquired in 2008 for $ 13.9 billion, the Executive Director of HP Meg Whitman (Meg Whitman) warned investors that the hard times for the company is not yet over and the mistakes of the past will be felt in the next year.
`HP is still at the initial stage of recovery, which will take several years - said Whitman about the quarterly results. - Despite the obstacles, we have already achieved some progress. In the last quarter, we have done a number of steps to focus on strategic priorities, controlling costs, implementing necessary organizational changes and the strengthening of the financial state of the company #39;.
HP revenue totaled $ 29.7 billion, which is 5% lower than the $ 31.2 billion of income earned in the same quarter a year earlier. Forecast of Wall Street analysts, according to Thomson Reuters I / B / E / S, was equal to 30.1 billion in revenue. Loss per share equal to $ 4.49 USD, while a year ago in the third fiscal quarter, the company had earnings were $ 0.94 per share.
Almost all of the company lowered revenue excluding the software, increase revenue by 18%, mainly due to the company Autonomy, the acquisition of which was completed in October of last year.
In the current fiscal year, to be completed in October, HP expects earnings net of certain costs in the range of $ 4.05 - $ 4.07 per share, which almost coincides with the May forecast of the company is $ 4.05 - $ 4.10 per share, and lower than forecast Analysts had expected earnings of $ 4.08 per share.
