Hewlett-Packard sees signs of stability

Hewlett-Packard (HP) reported a drop in profits but pointed to signs of
stability in the market.

The world’s largest PC maker said its profit dropped 19 per cent in the latest
quarter, dragged by ongoing weakness in sales of personal computers,
software and printer ink.

But the company said that consumer spending on PCs was improving, helped by
price cuts. HP has been branching out aggressively into other areas, like
technology services and computer networking, but the PC business still makes
up nearly a third of its revenue.

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HP Boss Mark Hurd Under Fire From The Blogging Fraternity

HP’s CEO, Mark Hurd announced, on the 20th February that he would be implementing a company wide cut in pay for all employees. Starting with a reduction in his own salary by 20%, followed by senior executives who would take a drop between ten and fifteen percent, regular employees 5 percent and exempt employees 2.5 percent. This is on the back of an already reduced headcount at HP & recently acquired EDS (Electronic data systems) of 40,000 employees globally.

None of which has impressed the blogging fraternity.

Well respected Internet Blogger Julia Mackenzie says in her blog - Is it me or is everyone else stupid

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HP’s profits exceed expectations

The world’s biggest PC maker, Hewlett-Packard (HP), has beaten forecasts by posting a better-than-expected net profit in the fourth quarter.

HP said it made a $1.03 (£0.68) net profit per share excluding charges, 3% higher than the Wall Street analysts expected. Read more