Rochester, NY 8/22/2009 2:38:24 AM
Hewlett-Packard Company, HPQ,HP Profits Falls as its Sales Declines During the Last Quarter
Hewlett-Packard Company, HPQ
Hewlett-Packard suffers from 19% quarterly declines in profit following a company’s down on its sales in several of its key businesses. HP is the world's largest PC manufacturer, but saw revenue for the division tumble 18% to $8.43bn. Revenues from its servers and storage division fell 23% to $3.66bn and the printer unit suffered a 20% to $5.66bn.
Revenues from the company’s servers and storage division fell 23% to $3.66bn and the printer unit suffered a 20% to $5.66bn. In the software division, operating profit rose 13% but its revenue fell 22% to $847m. Last year HP bought services giant EDS, HP said revenue for this unit was up 93% to $8.47bn. Analysts described HP's results as decent enough considering the trading conditions, and felt the company had probably hit the bottom of the market.
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