Hewlett-Packard makes $8.8bn loss
Hewlett-Packard Corp has reported an $8.8bn (£5.54bn) loss for the third quarter of 2012, after writing down numerous assets and acquisitions.
In an earnings release, Meg Whitman, HP President and CEO, stated that “HP is still in the early stages of a multi-year turnaround, and we’re making decent progress despite the headwinds. During the quarter we took important steps to focus on strategic priorities, manage costs, drive needed organizational change, and improve the balance sheet. We continue to deliver on what we say we will do.”
Like Dell, HP has been struggling in recent years due to the decline of the PC market. Mobile devices have gained enormous popularity, leaving the manufacturers of more traditional computing solutions in a struggle to fight back.