{"id":15482,"date":"2011-11-22T05:05:00","date_gmt":"2011-11-22T05:05:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/hewlett-packards-q4-profit-drops-91-hpq\/15455\/"},"modified":"2011-11-22T05:05:00","modified_gmt":"2011-11-22T05:05:00","slug":"hewlett-packards-q4-profit-drops-91-hpq","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/hewlett-packards-q4-profit-drops-91-hpq\/15482\/","title":{"rendered":"Hewlett-Packard\u2019s Q4 Profit Drops 91% (HPQ)"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><!--Ad Injection mfunc mode ad include code--><br \/>\n<!--mfunc include_once('\/mnt\/Target01\/327806\/www.thestockmarketwatch.com\/web\/content\/stock-market-news\/wp-content\/plugins\/ad-injection\/adshow.php') --><br \/>\n<!--\/mfunc--><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-thumbnail wp-image-2413\" title=\"Hewlett Packard\" src=\"https:\/\/storage.googleapis.com\/smw-news-wp\/2010\/11\/46-150x150.jpg\" alt=\"Hewlett Packard\" width=\"150\" height=\"150\">Hewlett-Packard Company (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=hpq\">NYSE: HPQ<\/a>), after market close on Monday, reported its fourth-quarter financial results, posting a 91% drop in profit.<\/p>\n<p><span id=\"more-15482\"><\/span><\/p>\n<p>Despite the sharp decline in profit, Meg Whitman, HP\u2019s recently appointed CEO, tried to remain optimistic. Whitman said in an interview that HP has been through a lot and has got some rebuilding to do. She added that what HP has been through would have felled lesser companies.<\/p>\n<p><!--mfunc adshow_display_ad_file_v2(array('ad_random_1.txt'), array(100), array('align' => 'float right', 'clear' => '', 'margin_top' => '', 'margin_bottom' => '', 'padding_top' => '', 'padding_bottom' => ''), array(), array()) --><\/p>\n<div style=\"float:right;margin-left:5px;\"><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - in News 300 *\/\ngoogle_ad_slot = \"5684630733\";\ngoogle_ad_width = 300;\ngoogle_ad_height = 250;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/div>\n<p><!--\/mfunc--><\/p>\n<p>HP, indeed, has been through a lot in the last one year. Leo Apotheker, from whom Whitman took over as CEO in September, wanted to transform HP\u2019s business completely. Under Apotheker, HP acquired Autonomy, a British software company; dropped its tablet computer business; and announced plans to sell its personal computing business. All this while, HP shares tumbled as investors did not agree with Apotheker\u2019s idea of transforming HP.<\/p>\n<p>HP\u2019s business has also suffered due to the global economic environment. Whitman expects HP to grow at GDP-type growth rates or maybe a little faster. She expects profitability to rise through superior management of HP\u2019s internal assets.<\/p>\n<p>For the fourth quarter, HP reported net income of $200 million, or $0.12 per share, down from $2.5 billion, or $1.10 per share reported for the same period in the previous year. During the fourth quarter, the company took $2.1 billion related to the closing of its Web OS mobile software business.<\/p>\n<p>HP\u2019s revenue for the quarter fell 3% on a year-over-year basis to $32.1 billion. The company\u2019s revenue from its server business and notebook computers also fell during the fourth quarter. The company\u2019s services business also barley grew in the fourth quarter.<\/p>\n<p>Although HP\u2019s profit for the quarter was better than what many analysts were expecting, the company\u2019s shares fell in after-hours trading on the gloomy outlook for the company.<\/p>\n<p>HP shares fell 2.27% to $26.25 in after-hours trading.<\/p>\n<p>More Posts by this author<\/p>\n<ul>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/interoil-shares-rally-after-company-signs-heads-of-agreement-for-lng-supply-ioc\/15728\"><br \/>\nInterOil Shares Rally after Company Signs Heads of Agreement for LNG Supply (IOC)<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/gold-prices-slip-as-dollar-strengthens\/15727\"><br \/>\nGold Prices Slip as Dollar Strengthens<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-end-lower-on-persistent-euro-zone-worries\/15725\"><br \/>\nStocks End Lower on Persistent Euro Zone Worries<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/jp-morgan-chase-purchases-lme-stake-from-mf-global\/15720\"><br \/>\nJP Morgan Chase Purchases LME Stake from MF Global<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/netflix-avoids-class-action-lawsuit-in-wal-mart-case\/15719\"><br \/>\nNetflix Avoids Class Action Lawsuit In Wal-Mart Case<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/gap-eyeing-chinese-markets-for-international-growth\/15718\"><br \/>\nGAP Eyeing Chinese Markets For International Growth<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/german-merck-demands-back-facebook-page\/15717\"><br \/>\nGerman Merck Demands Back Facebook Page<\/a><\/li>\n<\/ul>\n<hr>\n<table style=\"border:none;margin:0;\">\n<tr>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/2024\/08\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n<div style=\"font-size:10pt;\">\n<p>Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/p><\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Hewlett-Packard Company (NYSE: HPQ), after market close on Monday, reported its fourth-quarter financial results, posting a 91% drop in profit. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[3],"tags":[252],"class_list":["post-15482","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","tag-hpq"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/15482","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=15482"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/15482\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50312"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=15482"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=15482"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=15482"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}