HP Reports 3Q Loss, But Upbeat On 4Q - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
News

HP Reports 3Q Loss, But Upbeat On 4Q

Hewlett-Packard reported a net loss of $2 billion for its first quarter of combined operations with Compaq, as the company absorbed $3 billion in layoff and merger expenses. Company executives promised better performance for the current quarter as the new HP wrings costs from its money-losing PC and server businesses.

For the fiscal third quarter ended July 31, HP reported a net loss of 67 cents per share, compared with a profit of $123 million, or 6 cents per share, in the same quarter a year ago. Revenue was $16.5 billion, compared with $10.3 billion last year. HP and Compaq's combined revenue during the comparable quarter last year would have been $18.6 billion.

HP derived about 29% of its third-quarter revenue from printing and imaging; 29% from PCs and handheld computers; 23% from servers, storage, and software; and 18% from IT services. Only printers and services turned a profit. HP lost $198 million on its PC business and $422 million in its enterprise systems group.

HP's Merger Dues
3Q '02 3Q '01
Revenue $16.5B $10.3B
Net income (loss) ($2B) $123M
DATA: Hewlett-Packard

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
State of the Cloud
State of the Cloud
Cloud has drastically changed how IT organizations consume and deploy services in the digital age. This research report will delve into public, private and hybrid cloud adoption trends, with a special focus on infrastructure as a service and its role in the enterprise. Find out the challenges organizations are experiencing, and the technologies and strategies they are using to manage and mitigate those challenges today.
Commentary
What Becomes of CFOs During Digital Transformation?
Joao-Pierre S. Ruth, Senior Writer,  2/4/2020
News
Fighting the Coronavirus with Analytics and GIS
Jessica Davis, Senior Editor, Enterprise Apps,  2/3/2020
Slideshows
IT Careers: 10 Job Skills in High Demand This Year
Cynthia Harvey, Freelance Journalist, InformationWeek,  2/3/2020
Register for InformationWeek Newsletters
Video
Current Issue
IT Careers: Tech Drives Constant Change
Advances in information technology and management concepts mean that IT professionals must update their skill sets, even their career goals on an almost yearly basis. In this IT Trend Report, experts share advice on how IT pros can keep up with this every-changing job market. Read it today!
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll