After market close Monday, Hewlett-Packard reported fourth-quarter earnings that were in line with the forecast the company gave earlier this month when it acquired networking equipment maker 3Com.
Four years after separating its PC business from its imaging and printing group, Hewlett-Packard is planning to merge them, undoing one of Mark Hurd’s first big moves as CEO. “People familiar with the situation” tell The Wall Street Journal that the plan under consideration would combine HP’s printer and PC businesses under Todd Bradley, who currently oversees only the latter.
Silicon Valley luminary and Golden Geek cover model Marc Andreessen is adding another gig to his CV: Hewlett-Packard director. Andreessen, who sold his software company, Opsware, to HP two years ago for $1.6 billion, will begin serving on the board immediately, bringing its total number of directors to 11.
Hewlett-Packard posted its quarterly financials Tuesday afternoon and they were slightly better than expected, driven by a two percent increase in PC shipments. Quarterly profit fell 19 percent to $1.64 billion, or 67 cents a share, on revenue of $27.45 billion. But excluding one-time items, HP earned $2.2 billion, or 91 cents a share, a penny better than analysts surveyed by Thomson Reuters had forecast. And the company seems confident of its performance going forward.
Here is the letter Hewlett-Packard CEO Mark Hurd broadcast to employees Wednesday explaining the company’s stunning reversal in outlook for the fiscal year and its plans to reduce pay and benefits across the board. “In an environment like this, there’s no margin for error and no tolerance for inaction,” he wrote.
With the Dow near its lowest point in a decade and global PC shipments down for the first time since 2002, according to market research firm IDC, Hewlett-Packard reported fiscal first-quarter earnings today, and though they met Wall Street’s expectations, they were clearly not what the market had been hoping for.
When Hewlett-Packard CFO Cathie Lesjak said she was fond of cost-cutting, she wasn’t kidding. On Monday HP announced plans to cut 24,600 jobs over the next three years as it digests Electronic Data Systems, the technology services giant it acquired for nearly $14 billion this summer.
Hewlett-Packard CEO Mark Hurd seems to have managed to cut the fat from the company without hitting any of its internal organs. HP reported a 10 percent increase in its fiscal third-quarter earnings Tuesday, while profits rose 14 percent to $2 billion.
John Paczkowski has been poking fun at the tech industry and the personalities that drive it since 1997. From 1999 to 2007, he wrote the award-winning tech news Web log Good Morning Silicon Valley for the San Jose Mercury News, Silicon Valley's daily newspaper. Read more »
Here is a statement of my ethics and coverage policies. It is more than most of you want to know, but, in the age of suspicion of the media, I am laying it all out.
While the technology behind the Telephone is new, the design is reassuringly old-fashioned, reminiscent of a phrenologist’s horn or ear-candle in form. We found the experience far more comfortable than the one we had with the Telegraph.
12:58 AM: Breakfast: Two schools of fish from Tokyo Bay. Calories: 782,000. How I was feeling when I ate this: confused, irradiated, hating my size.
11:37 AM: Exercise: “Taxi Stomp” (alternating legs, for 30 blocks). Calories burned: 148,900,183.
1983. The Beatles announce their first tour in thirteen years, but likewise announce that Michael Jackson will be going on tour with them as a one gigantic mega-concert event.
Best video mashup ever.
A Facebook Memorial
Wow.
Worth it for the Rickrolling photo alone.
Excellent.
Flughumor!
… you vacuous, toffee-nosed, malodorous perverts
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