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However, results included a charge of 16 cents per share related to its purchase of tech services firm EDS, as well as a 2 cents per share charge related to a patent dispute. Without the charges, Hewlett-Packard (HPQ) earned 88 cents per share.
Hewlett-Packard (HPQ) sales fell 3 percent to $27.4 billion, in the latest period, which was in line with analyst expectations.
also cut its full-year sales outlook; HP said it now expects full-year revenue to fall between 4% and 5%, worse than its previous range of 2% to 5%. HP stock dropped nearly 5% in after-hours trading.
Hewlett-Packard (HPQ), the world's largest personal computer maker, reported desktop and laptop sales falling 13% and 24%, respectively, during the second quarter. 's revenue.
Hewlett-Packard's (HPQ) imaging division, which sells printers and printer toner and cartridges had poor results as well. Consumer printer sales were down 31%, and fell 14 % in the quarter, despite a price increase for HP toner.
At the same time, Hewlett-Packard (HPQ) said it plans to cut 6,400 more workers, 2 percent of the company's total work force. This will be on top of the 24,600 HP is laying off as part of its acquisition of technology services provider Electronic Data Systems.
Posted May 19th, 2009 by Michael Santo
