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Hewlett Packard Profits Fall Again

Hewlett Packard Profits Fall Again

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.