HP's first quarter earnings down 38 percent year over year
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HP just announced a fairly brutal (though still profitable) quarter of financial results, anchored by GAAP earnings which were down some 38 percent to $1.5 billion versus the same quarter a year prior. Revenue, meanwhile, was off just 7 percent, and HP's lumping much of the downward trend in earnings into higher "cost of sales" (the company isn't taking any hit from the wind-down of the webOS business this quarter). Recently-installed CEO Meg Whitman says that they're "taking the necessary steps to improve execution, increase effectiveness and capitalize on emerging opportunities to reassert HP's technology leadership." »read more
More at: TheVerge Add additional source
Filed in: HP
Additional sources: HP profit falls 44% in first fiscal quarter read at SlashGear Report