Summary Box: HP CEO pleads patience

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IT’LL TAKE TIME: Hewlett-Packard Co. CEO Meg Whitman described a multiyear journey and pleaded for patience as the company undergoes a turnaround effort.

THE CHALLENGES: Operational challenges and other internal problems, plus a need to free up money to invest in growing areas such as Internet-based systems known as cloud computing.

THE RESULTS: HP’s earnings in the latest quarter fell 44 percent, while revenue was down 7 percent. The company says contributing factors included weak consumer demand and supply shortages from flooding in Thailand.