Shares of Hewlett-Packard (HPQ) were being dragged down once again. The diversified information technology company reported its fourth quarter results on Tuesday before the market open. Disappointing earnings and a soft guidance were not the biggest worry of investors. The company took a $8.8 billion impairment charge, mostly related to its acquisition of Autonomy on fraud charges. Shares ended the day 12% lower after trading with losses up to 15%.
Fourth Quarter Results
Hewlett-Packard reported fourth quarter revenues of $29.96 billion, down 7% on the year. In constant currencies, revenues fell 4%. Revenues fell short to analysts expectations of $30.43 billion.
Read the entire article on Seekinalpha by clicking the following link
No comments:
Post a Comment