Hewlett-Packard Sales Slump Shows CEO Whitman’s Challenge
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Hewlett-Packard Co. posted a record quarterly loss and reported slumping sales for personal computers and services aimed at businesses, underscoring the turnaround challenge facing Chief Executive Officer Meg Whitman.
The fiscal third-quarter loss of $8.86 billion includes a writedown for the enterprise-services unit and reflects a 10 percent decline in PC revenue. The company pared the high end of its full-year forecast for profit excluding some items to $4.07 a share, from $4.10, missing the average $4.08 analyst estimate compiled by Bloomberg.