SAN FRANCISCO (AP) — HP’S TROUBLES: Hewlett-Packard Co.’s first earnings report with Meg Whitman as CEO highlights the troubles she faces in setting a new course for the besieged company.
HP’s PERFORMANCE: The latest quarterly numbers beat Wall Street’s subdued expectations. Net income fell 91 percent. Revenue fell 3 percent. But the forecast for the 2012 fiscal year left something to be desired, in Wall Street’s eyes.
WHAT THE RESULTS MEAN: The results underscore the challenge facing Whitman, who must wrestle with one of technology’s oldest companies amid management dysfunction and economic malaise.