HP promises 'innovations' while profit declines 16% year-on-year

HP said Thursday its net profit for its first fiscal quarter ending Jan. 31 declined 16 percent from the same period a year ago to US$1.2 billion. But it also marked a rebound from the prior quarter's US$6.9 billion loss stemming from a massive write-down in the value of a British company accused of “serious accounting improprieties.”

The most recent quarterly results were better than expected, amounting to a profit of 82 cents a share, and revenues also beat forecast despite a 6-percent drop to US$28.4 billion.

HP, which has been struggling amid a consumer shift away from PCs to tablets and other devices, is in the middle of a major restructuring program expected to trim some 29,000 jobs.

SHARE CLOSE
Blogger		Google+
Live Journal		Plurk
Stumble Upon

Tweet

	PREVIOUS ARTICLE
	Japan finds causes of fuel leaks in some Boeing 787 Dreamliners

NEXT ARTICLE
Ford investing US$200 million to build turbo engine in Ohio

Write a Comment

Terms

Enter your comments - 3000 characters max

Type in image code

 Receive China Post promos
 Respond to this email

Submit