Fourth-Quarter Sales of HP Misses Analyst’s Expectations
Hewlett-Packard Co. (HPQ) reported a drop in the fourth quarter revenue for most of its business segments in this year. This could be a major concern ahead of the company's scheduled division of its enterprise services from its established computer and printing business in 2015.
On Tuesday, the Palo Alto based company HP said that its shares in the fourth quarter dropped 2.5 per cent in to US $28.41 billion from an US $29.13 billion noted in the previous year. The expectation of the analysts was US $28.76 billion.
The profit of the company dropped 2.7 per cent to US $2.01 billion of $1.06 cents per share when compared to US $1.01 cents per share one year back which was in line with the expectations of the analysts.
The only division of the company that showed some growth during the period which ended on October 31 was its personal-systems group.
Though the PC division of HP has gained from the enhanced corporate demand as well as success of its low-cost laptops, the growth is not being able to reach for its ultimate as its enterprise units strive to changeover to services based in the cloud.
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