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Hewlett Packard Profits Fall Again

By David Richards| 26 Nov 2014


	Overnight the Company said that profits fell 5.9% for the October quarter on another period of lower revenues. Shortly the Company will announce further information on how they plan to split the Company in two. Revenue for its fourth quarter fell 2.5% to $28.41 billion. The average estimate of Wall Street analysts called for a 1% decline to $28.76 billion, according to Thomson Reuters. The Wall Street Journal said that H-P unveiled plans last month to break up the company on the hopes two more nimble firms would be more capable of adapting to tech-industry changes. One of the reconstituted H-P companies would consist of its PC and printer businesses, the other of its hardware, software, consulting services and other product lines aimed at corporate buyers. The breakup is expected to be completed by October.

About Post Author

David Richards has been writing about technology for more than 30 years. A former Fleet Street journalist, he wrote the Award Winning Series on the Federated Ships Painters + Dockers Union for the Bulletin that led to a Royal Commission. He is also a Logie Winner for Outstanding Contribution To TV Journalism with a story called The Werribee Affair. In 1997, he built the largest Australian technology media company and prior to that the third largest PR company that became the foundation company for Ogilvy PR. Today he writes about technology and the impact on both business and consumers.